client interview: droitwich pharmacy sold to msa global holdings ltd in 2014

CLIENT INTERVIEW: Droitwich Pharmacy sold to MSA Global Holdings Ltd in 2014 John Hinks didn’t want to go down the traditional route when selling his Pharmacy business. And that’s precisely why he chose BCMS John Hinks: I ran Droitwich Pharmacy for 35 years. I had in fact been thinking about selling for a very long time. As you would expect when making an important decision, John Hinks did his homework on the options available to him: Traditionally in pharmacy there are three or four agents that manage company sales. I wasn’t confident that they would do a good enough job for us. I had regularly received letters from BCMS over the years and eventually I chose to attend one of their seminars which was presented by David Rebbettes. We listened to what he had to say and it sounded sensible. As a member of the Pharmaceutical Golf Society I took part in events sponsored by competitor firms like Christies and Hutchings. But I was wary of these firms as I didn’t want to go down that traditional route. Of course it is one thing to deliver a good seminar, but the service has to match the promise: I thought the sale process was managed very well. Right from the outset BCMS demonstrated how they approached the market and it was all very logical. A list of potential buyers was prepared and every stage progressed as outlined. As an experienced advisor, BCMS prides itself on maintaining strict controls on client confidentiality: Confidentiality was hugely important to me. I play golf often with people that could have bought the business and so I knew a number of the people that came forward expressing an interest. Selling your business is an intensive process, BCMS strives to minimise the impact on its clients: The impact on us running the business was almost nil. We separated the two tasks quite easily. I was also reliant on my manager, who managed all the day-to- day operations of the business. And the all-important end result? BCMS and the solicitors worked very hard to secure the sale price and the terms I wanted. The value certainly met and exceeded my expectations in some respects. The staff and business continuity are also very high on most clients’ agenda: All staff are staying with the business and that was very important to me. I’ve been in the business for 35 years and built up a tremendous amount of trust with staff over that time. The new owners took on the staff and they have respected these relationships. They kept our manager in place which I’m also happy about. John Hinks is now free to pursue life at his own pace: We’ve bought a little holiday property which we visit fairly regularly now. I have very little involvement with the business now and moving forward will be free of it completely. “ The sale process was managed very well, right from the outset BCMS demonstrated how they approached the market ”

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CLIENT INTERVIEW:Droitwich Pharmacy sold to MSA Global Holdings Ltd in 2014

John Hinks didn’t want to go down the traditional route when selling his Pharmacy business. And that’s precisely why he chose BCMS John Hinks: I ran Droitwich Pharmacy for 35 years. I had in fact been thinking about selling for a very long time.

As you would expect when making an important decision, John Hinks did his homework on the options available to him:

Traditionally in pharmacy there are three or four agents that manage company sales. I wasn’t confident that they would do a good enough job for us. I had regularly received letters from BCMS over the years and eventually I chose to attend one of their seminars which was presented by David Rebbettes. We listened to what he had to say and it sounded sensible. As a member of the Pharmaceutical Golf Society I took part in events sponsored by competitor firms like Christies and Hutchings. But I was wary of these firms as I didn’t want to go down that traditional route.

Of course it is one thing to deliver a good seminar, but the service has to match the promise:

I thought the sale process was managed very well. Right from the outset BCMS demonstrated how they approached the market and it was all very logical. A list of potential buyers was prepared and every stage progressed as outlined.

As an experienced advisor, BCMS prides itself on maintaining strict controls on client confidentiality:

Confidentiality was hugely important to me. I play golf often with people that could have bought the business and so I knew a number of the people that came forward expressing an interest.

Selling your business is an intensive process, BCMS strives to minimise the impact on its clients:

The impact on us running the business was almost nil. We separated the two tasks quite easily. I was also reliant on my manager, who managed all the day-to-

day operations of the business.

And the all-important end result?

BCMS and the solicitors worked very hard to secure the sale price and the terms I wanted. The value certainly met and exceeded my expectations in some respects.

The staff and business continuity are also very high on most clients’ agenda:

All staff are staying with the business and that was very important to me. I’ve been in the business for 35 years and built up a tremendous amount of trust with staff over that time. The new owners took on the staff and they have respected these relationships. They kept our manager in place which I’m also happy about.

John Hinks is now free to pursue life at his own pace:

We’ve bought a little holiday property which we visit fairly regularly now. I have very little involvement with the business now and moving forward will be free of it completely.

“ The sale process was managed very

well, right from the outset BCMS

demonstrated how they approached

the market”