The corporate team of leading South East law firm Thomson Snell & Passmore, has advised new clients in connection with the sale of their family business for an undisclosed sum to a US buyer.
The target company specialises in supplying and fitting industrial foam filled tyres and tyres for forklift trucks. The company operates from Northfleet in Kent and has an established presence in the area. The transaction also involved the sale of a freehold property to the sellers’ pension fund and a subsequent leaseback to the target company. The sellers will continue to work in the business in a consultancy capacity.
The Thomson Snell & Passmore team was led by corporate partner Joanne Gallagher with assistance from corporate associate Krishen Patel, employment partner Susanna Gilmartin and commercial property senior associate, Alex Lewsley.
Commenting on the deal, Joanne Gallagher said:
“We are delighted to have been asked to advise the sellers on this transaction. This was a complex transaction which drew on experience from our commercial group teams. We are pleased to have achieved the required result for our clients.”
The client commented:
“The experience was very challenging, but with the help and unending patience of Krishen Patel and Alison Antill, in particular, we were guided through the process to a successful conclusion. The whole team were highly professional providing us with an outstanding service.”