Building Services Contractor sells controlling interested to Private Equity company in complex $15 million deal.

Roberts Legal was appointed to act on behalf of medium sized construction company and its two (2) directors in relation to the sale of 75% of the business, the sale of a smaller related supply business controlled by one of the directors and the restructuring of the underlying corporate entities with a private equity group investing in the construction industry in NSW.

The price was in excess of $15 million. The terms of the sale included Earnouts, Fixed Term Executive Employment Contracts, comprehensive Vendor Warranties, Restraints of Trade, Personal Guarantees & Indemnities, new Leases of two (2) premises, land funding via Convertible Notes and Bank Facilities with comprehensive securities in including security over the Shares in the new trading company.

Roberts Legal advised in relation to all contracts, agreements, resolutions and notices relating to the sale and acted in relation to the negotiation of suitable terms.

A Business Sale Agreement was formalised and the sale completed three (3) months later without issue.

By Sam Roberts,
Managing Director, Accredited Specialist (Commercial Litigation)