LEES, The Corporate Finance Network’s member firm in the Norwich & East Anglian region, have assisted their client in the acquisition of a company in the plastic processing industry.
The client approached LEES when they were considering the potential acquisition of the company, which had suffered in this difficult climate, and was in the hands of the administrators. Jerry Hyde, of LEES, worked to structure the deal, forming a limited company, and preparing detailed business plans for the new venture.
Jerry also entered into negotiations with the administrators in order to agree a purchase price and payment structure for the deal, which was completed in December 2009 for £100,000.
The client were extremely pleased with the new addition to their existing ventures, which enabled them to secure both the ongoing contracts of the business, and the jobs of 20 existing staff.
Kester Cunningham John Solicitors dealt with all legal considerations throughout the deal.
