News > March 2009

Accountants Help Brothers to Buy Units with Family Connection

A Swansea businessman liked the industrial estate where his company is based so much that he has bought it – with a little help from local chartered accountants WBV.

Nigel Hillman runs Charterbrook Signs, founded by his late father, Brian, more than 30 years ago and based in one of six units making up Acorn Court – which Brian also played a key role in developing – at Swansea Enterprise Park.

He and his brother, Robert, had been considering the possibility of buying the Charterbrook Signs unit, which was owned by their mother, Heather, for some time. When the other units were also placed for sale on the open market, they decided to pursue the opportunity to buy all six.

Nigel turned for advice on the transaction to Rylan Lopez, a partner at WBV in Swansea, with whom he has been working for around three years. He moved Charterbrook Signs to the practice, which was recommended to him by a WBV client, after becoming unhappy with the lack of continuity and level of service he was receiving from a national accountancy firm.

Rylan advised on issues related to the purchase of the units, including putting their ownership into a partnership formed by Nigel and Robert, outside Charterbrook Signs, and structuring the deal for maximum tax efficiency.

Nigel says: "WBV provides me with a more proactive service, with a personal touch, and Rylan’s advice on this transaction has been really helpful."

Rylan said: "We are delighted to have been able to help Nigel and Robert in bringing about this transaction, which gives Nigel the security of owning his own business premises as well as carrying forward the family link with Acorn Court into the future."

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