Why the Right Deal Team Matters: A Case Study in Smart Collaboration
Why the Right Deal Team Matters: A Case Study in Smart Collaboration
Sometimes, a deal looks simple on paper — but what happens behind the scenes tells a very different story.
This recent sale of a family retail business is a case in point. At first glance, it ticked all the boxes: motivated seller, committed buyer, healthy 30+ year trading history. But just below the surface were the kinds of issues that commonly derail transactions.
What made the difference here? The right deal team coming up with creative solutions together — working together early, staying aligned, and knowing where to focus.
The Challenges
Legacy Employee Entitlements
The business had long-term staff, which is a strength — but also meant over $100,000 in unused personal leave sitting on the books. The buyer was understandably cautious about taking on that level of liability.
Excess Stock
The seller had stock levels exceeding $1 million, due to forward ordering during COVID. While the inventory was solid, the volume raised real concerns about how to fairly price and transition it without overwhelming the buyer.
Legal Delays
The buyer’s solicitor was adding friction to the process from the get go— escalating obscure concerns, creating delays, and drawing out negotiations unnecessarily.
The Turning Point
What made this deal work was strong collaboration between broker and legal — and the right mix of process and expertise on the legal side.
This is where the difference between a specialised commercial lawyer and a generalist — or a well-meaning family lawyer — becomes clear. Without experience in structuring business sales and the systems to back that up, it’s easy for key issues like entitlements or stock to derail negotiations.
Instead, the legal and broker teams worked together to ensure structuring around entitlements was managed in a way that protected the buyer without creating unnecessary costs for the seller. The stock issue was resolved through a simple, structured approach that balanced both parties' concerns.
The Result
The deal settled. The seller achieved a great sale including offloading its large level of stock and without ending up footing a large adjustment for personal leave entitlements. The buyer had confidence in what they were stepping into. Relationships were preserved, and the process moved faster than it would have with disjointed or reactive advice.
Joanna Oakey, Managing Partner at Aspect Legal adds:
“This is a real example of where deal team dynamics are absolutely key. I see so many deals fall over because the advisors on the deal aren’t aligned. Brokers and lawyers need to talk early and often, working together — that’s when we can get creative and solve real problems.”
What can you learn from this?
- Specialist expertise matters. A generalist lawyer, or family lawyer, may miss key issues or overcomplicate them. Experience in business sales leads to smarter, simpler outcomes.
- Process is power. When the legal team has specific systems to support business sale transactions in place, everything from contract to completion is generally smoother.
- Collaboration is key. Open communication, and a genuinely collaborative approach between broker and legal helps to solve problems, avoids delays and builds trust across the deal
Looking to get your next deal across the line — make sure you find the right legal advisor.
Whether you're a broker, a business owner, or an adviser, having the right team behind you makes all the difference. Ensure your deal team brings structure, speed, and clarity to business sales.
If you’re navigating a sale or helping someone who is — we’re here to help.
Tags: business owner small business tips
About the author
Joanna Oakey
Lawyer and Managing Partner, Aspect Legal
Joanna Oakey is a commercial lawyer and deal maker with a passion for business, who has worked with hundreds of businesses during her 2 decades in the ...
