Protecting a Client’s Interests During a Complex Business Acquisition
The client
Ben Ottinger was involved in a business acquisition that raised a specific and potentially significant tax issue.
Although Ben had previously worked with a well-established accounting firm, his earlier tax requirements had been relatively straightforward. This transaction required a different level of specialist knowledge.
He needed an adviser who could quickly understand the complexities of the acquisition, assess the buyer’s position and ensure that his own interests were properly protected.
The challenge
The tax treatment associated with the transaction had the potential to materially affect the final outcome for Ben.
The buyer had developed its own interpretation and calculations, but Ben needed an experienced adviser who could independently examine the position, identify any concerns and challenge the proposed approach where necessary.
For Ben, technical knowledge was essential. However, he also wanted an adviser who would remain closely involved, communicate clearly and be available when important decisions had to be made.
Why Benchmark
Ben was introduced to Benchmark through a mutual connection and began working directly with Stuart.
From their earliest conversations, Ben felt confident that he had found the level of expertise the transaction required.
Stuart’s understanding of the relevant tax issues quickly became apparent. He was able to discuss the situation in depth, explain his reasoning clearly and give Ben confidence that the matter was being handled by someone with the necessary specialist knowledge.
Ben described needing an “A-player” for the engagement and felt that Benchmark demonstrated that capability immediately.
Benchmark’s approach
Benchmark examined the buyer’s position and represented Ben’s interests throughout the acquisition process.
Where Benchmark disagreed with the buyer’s interpretation, Stuart clearly documented the alternative position and put forward proposed changes. These changes had a significant impact on the buyer’s calculations and helped move the transaction toward a more appropriate outcome.
Communication was central to the engagement.
Conversations were thoroughly documented, both verbally and by email, so that Ben always understood the advice being provided and the reasons behind it.
Stuart also made himself exceptionally accessible. He regularly responded outside conventional working hours, including during evenings and weekends, when the needs of the transaction required it.
For Ben, this level of personal availability went well beyond what he had expected from a tax adviser.
The outcome
The engagement resulted in what Ben believed was the correct and appropriate tax outcome.
Benchmark successfully challenged elements of the buyer’s original position, helped significantly alter the relevant calculations and ensured that Ben’s interests were properly represented during the transaction.
Just as importantly, Ben felt supported throughout the process. He had confidence that an experienced adviser was actively protecting his position rather than simply reacting to proposals made by the other side.
The client experience
Ben identified two qualities that particularly distinguished Benchmark: specialist expertise and exceptional communication.
The combination of highly technical advice, detailed documentation and direct access to Stuart gave him confidence during a complex and commercially important transaction.
"Benchmark provided an A-plus level of service. Stuart’s knowledge was highly superior, his communication was exceptional and he consistently went above and beyond what I expected.
He made himself available whenever we needed him and gave the transaction his time and full attention. I felt that he genuinely protected my interests and helped us reach the outcome we should have reached.
I would absolutely recommend Benchmark for both its expertise and its level of service."