Recent Case Study: Commercial Landlord and Tenant - An Authorised Guarantee Agreement - 4th Oct 2010
Authorised Guarantee Agreements keep the original tenant on the hook in case a third party assignee defaults; they should be drafted with care.
Pearson Hinchliffe Commercial Law advised on a management buy-in from the parent Plc to form a new company, JSMS Group Limited. A complex transaction was executed involving extracting a subsidiary from the parent Plc with the backing of both equity and bank funding.
JSMS Limited is a mechanical contractor and facilities management company based in the South-East of England providing a range of services for the motor industry and property companies. They employ 120 people and turnover between £15m to £20 per annum and count Ford among their clients.
Pearson Hinchliffe formed a holding Company with a number of subsidiary companies beneath it, and in each case created a separate form of Shareholders’ Agreement to accommodate the interests of the various parties.
The entire deal was completed within tight timescales by our Company and Commercial team, who liaised with the Plc’s City firm to meet stringent Plc and shareholder rules.
Since incorporation of the group structure, Pearson Hinchliffe Commercial Law has advised JSMS Group Limited on various issues concerning company law and contract, supporting the company’s growth and diversification into other markets such as health, education and commercial.
“I chose Pearson Hinchliffe because they are able to offer the necessary levels of technical knowledge for this sort of transaction, from shareholder agreements to corporate finance and contracts. As for their approach we were impressed by their grasp of our commercial strengths and the potential in our business for future development.”
Howard Dixon, Chairman of JSMS Group.
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How Pearson Hinchliffe Commercial Law helped members of the Board of Directors achieve the outcome they sought in their boardroom dispute with a senior executive director.
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