Commercial case study - electrical components
Size of firm (no of employees, turnover):
How the deal came about:
Client was an existing client who had come to the firm for personal services previously.
What problem did client want us to resolve:
The client had been approached by a large American company with regards to the sale of the entirety of the shares in the business between the three business owners.
How did we go about resolving problem and outcome:
The firm was instructed to prepare the appropriate documentation and to protect the employment of the ongoing owners who were to work on in a consultancy basis. The Share Purchase Agreement was to be drafted in a fair and reasonable manner to enable the sellers to benefit from the sale proceeds without worrying about the business going forward but still securing their employment.
Any particular issues highlighted by the case:
The importance of instructing a large enough firm with employment, commercial and property expertise to deal with larger scale transactions. Commercial deals in excess of £1,000,000 usually require experts in their own field to assist to bring the various components of a sale together, a service Hopkins can provide.