Chiltern plays major role in sale of Priory Group
Tax advice pays off as Chiltern plays major advisory role in sale of mental healthcare group
Tax advice pays off as Chiltern plays major advisory role in sale of mental healthcare group
Tax advisers Chiltern played a major role in the £875m sale of the celebrity
rehabilitation and mental healthcare company, the Priory Group to ABN Amro.
In a statement the firm said it had acted to provide tax advisory services in
‘specific and discrete’ areas for private equity firm Doughty Hanson’s sale of
the group to Dutch bank ABN Amro.
Chairman John Willmott and Amanda Flint, director and head of reward
consulting at Chiltern, led the team whose role involved the provision of
general corporate tax advice to the Priory Group as part of vendor due diligence
as well as specialist taxation advice to management in respect of reward
consulting and share incentive planning.
Willmott said that this proved that corporate companies were ‘increasingly
looking beyond the Big Four‘ for specialist advice.
‘Undoubtedly this has been prompted by increased awareness of corporate
governance best practice in terms of using separate advisers for audit and
non-audit services, but also by a growing realisation that a specialist,
independent firm can offer equivalent or superior advice, with a higher service
level and at better value than some of the more well-known providers.
‘There is a shake-up going on among professional services providers and work
is flowing out of the Big Four towards the so-called ‘Group A’ firms.
‘In recent months we have been appointed by a growing number of corporate
clients, some of whom are very large companies’, Willmott added.
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