Lloyds TSB Corporate has combined diligent financial and legal assistance with a speedy turnaround, helping the new owners, Paddy and Sue Flavin, to complete a £2.1 million management buyout of Merrist Wood Golf Club in just ten days.
Financial assistance from the bank of £1.4 million together with a combined team effort ensured the buyout was achieved on time.
Merrist Wood Golf Club is located just outside Guildford in tranquil countryside and, at only ten minutes from the A3, is convenient for London and the M25. The 250-acre site was formerly owned by Merrist Wood College. David Williams designed and Whitnell Contracts built the par 72 golf course, which opened in 1997. The club is a member of the Barrelfield Golf Network.
Peter Taylor, Lloyds TSB Corporate senior relationship manager, said, “We were delighted to be approached by Merrist Wood again following our initial introductions nine months ago. There was no leeway in the original completion date and we worked with the accountants and solicitors to implement the necessary legal and financial procedures over a period of just ten days to meet the absolute deadline.”
Paddy Flavin of Merrist Wood Golf Club said, “Peter Taylor and his team at Lloyds TSB Corporate put in a truly concerted effort within a very tight timescale. Thanks to excellent teamwork, Lloyds TSB Corporate ensured we completed our buyout on time.
“As a privately-owned business, it is essential to have a flexible and practical approach from your bank, which Lloyds TSB Corporate provides. Having now successfully completed our buyout, we are very much looking forward to developing our reputation as a first-class club and seeing the true potential of Merrist Wood flourish.”
Merrist Wood Golf Club www.merristwood-golfclub.co.uk
Buyout at Merrist Wood
