The sole shareholder of our long-term corporate client decided the time was right to sell his business. He wanted to retain ownership of the real property and the plants where the business was operated.
Sullivan's Mergers & Acquisitions group advised our client as to all steps in a private-company sell-side M&A transaction, including engaging the most experienced investment bankers in the industry to market the company in an auction situation; selecting the best-qualified bidder to be the purchaser; working with the company’s accountants to develop the most advantageous sale structure; negotiating highly complex deal terms; and successfully closing the deal.
Our client achieved all of his many desired goals: liquidity; a clean sale of the business where he retained very limited indemnification obligations; a short transition services period; long-term leases of the plants; and retention by the purchaser of all the company’s employees. We also helped our client with an estate plan to effectuate his philanthropic goals.
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