Thomson Snell & Passmore acted for the shareholders of a longstanding client of the firm, Hitec (Laboratories) Limited, a company which specialises in risk solution applications and information management, in the sale of the entire share capital of their company to Mitratech Inc.
Nick Gabay, a Partner in the Corporate & Commercial Team, led on the transaction. Our clients included the three founding shareholders, a number of employee shareholders and a number of trustees of pension schemes and settlement trusts.
The deal involved a large upfront payment, a retention placed into escrow against specific identified risks and a completion accounts adjustment based on debt and working capital.
Nick was assisted in the transaction by Ben Stepney, a Senior Associate in the Employment Team.
To read more about the transaction, please follow the link: https://www.insidermedia.com/insider/southeast/mitratech-swoops-for-hitec-laboratories