B P Collins Solicitors: talk to the experts
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TRANSACTION REPORT
B P Collins' acted for the selling shareholders Roy and Mimi Griffiths in the sale of Harvey Jones Limited and North Brink Limited to the management team.
B P Collins has advised Roy Griffiths, a leading kitchen designer, and the companies for a number of years. Having built up their assets over a long period, the sale was an ideal opportunity for Mr and Mrs Griffiths to realise their investment. The sale to their hardworking and loyal management team, assured them that the companies were in safe hands for the future.
Simon Deans, partner in the corporate and commercial practice group noted: "This MBO presented a number of challenges particularly relating to the extent of the warranty protection given to the buyers. The sellers had taken a strategic overview of the business in recent years, but played very little part in the day-to-day running, so were reliant on the management team to answer its own due diligence enquiries and assist in the disclosure process."
Simon concluded: "A sensible and pragmatic approach to the process was necessary, to achieve a satisfactory and fair allocation of commercial and legal risk between the parties, given that the Buyer had significant knowledge about the target companies."
The team:
Simon Deans, partner, corporate & commercial
Sheena Verma, associate, corporate & commercial
Michael Larcombe, partner, commercial property
Sue Deacon, associate, commercial property
