Published: 26 February 2020
A private investment firm led a funding round to raise $20m to help with the UK and international growth of an ‘experiential’ leisure brand owner.
For the investment to complete, the investment firm needed to be certain that the premises licences being used at the various locations were fit for purpose now, and for their future plans. This is because licences and conditions have a direct impact on the value of a property and a business.
A team of solicitors and paralegals, led by Partner Jonathan Smith, managed a due-diligence project studying the existing licence permissions and speaking with the police, licensing and environmental health authorities for each of the premises.
This due-diligence is a vital part of the investment as problems with licences can devalue businesses, and in worse-case scenarios, result in an investment aborting. This licensing due-diligence was completed on time and lead to the successful completion of the investment.
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