Taylor Rose TTKW Advises on investment transaction for expanding Peterborough business
STEPHANIE CREASEY >
PartnerTue 15 October 2019
Taylor Rose TTKW has advised the shareholders of Peterborough based TDN Group Ltd on the sale of a 50% stake in its equity holding to US based 300 LLC in return for financial investment in its growing business.
TDN Group Ltd, which also has a subsidiary in the US, provides automotive repair and reconditioning services, together with specialist tooling and training arms focusing on paintless dent removal and is the largest dedicated centre in the UK.
The joining forces of the two companies will give TDN Group Ltd a new global reach and access to shared knowledge and experience of staff.
The deal not only involved negotiating a suitable sale agreement but also including additional agreements including intellectual property licence arrangements and a share services agreement allowing each of the companies to provide additional services to one another.
Advising the sellers, Taylor Rose TTKW’s corporate associate Stephanie Creasey provided legal overview and support to TDN Group Ltd in the UK.
“The intricacies of any sale where the sellers are retaining an interest in the company are always interesting and add an additional layer of depth to the transaction,” said Stephanie, “not only are we looking to achieve the best deal for our client as sellers, but we also need to protect their interest going forwards to ensure they retain sufficient control of what is, at the end of the day, their business.
Working with TDN Group Ltd has been great. The added international element and the complexities that has brought means that this transaction has been challenging but we are pleased to have been able to help our client navigate their way through the process and achieve their objectives for this venture. I am excited to see what the future holds for them and am sure each company will bring great benefits to the other as well as supporting future growth.”
Jordan Fisher, Managing Director of TDN Group Ltd, said: "Stephanie at Taylor Rose has been fantastic to work with from start to finish. Our case was not straight forward given our buyers were a foreign entity but Stephanie's knowledge allowed her to confidently negotiate the legals on our behalf. I’d even go as far as saying I’d do it all again, which I believe is unusual for these types of transactions.”
Additional transaction support for the seller was provided by Nathan Hopkins of Greenstones Accountants and Karl Newman of Direct Peak.
If you require advice on any of the points mentioned above, please contact Stephanie Creasey.
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