How Jacksons Law Firm takes a teamwork approach to business acquisitions and disposals.
In 1876, Gilbert Jackson established a law firm on Albert Road, Middlesbrough to provide legal services to the burgeoning “Infant Hercules” of Teesside. That seed has grown into what is now known as Jacksons Law Firm, a North East regional legal practice operating form Stockton, Newcastle and Sunderland, offering the services of an A-Team of crack legal professionals. The modern legal world is complex. Legal transactions commonly have a multitude of different facets and issues which necessitate the input of an array of different legal skills. Teamwork is the ethos that runs to the core of Jacksons. Whoever you contact first, this crack outfit will call on their colleagues to pull together the team of legal specialists that you need. So, if you’re looking to make a business acquisition or disposal, YOU can hire
The A-Team!
Tony Wentworth, managing partner of Jacksons and head of the corporate and commercial team is often the first port of call for clients.
He says the first step in any transaction is to gain a thorough understanding of the business which is to be bought or sold and the issues that are likely to arise.
“From that, we are then able to pull together a team of specialist lawyers from within our firm to meet the demands of the transaction,” he says.
Recently, the firm acted for a management team who acquired the division of the business that they managed. As they acquired only part of the existing business, the acquisition was structured as a purchase of specific assets, which gave rise to some complex legal issues.
“There were employees of the selling company who worked across both the business division which was to be sold and the part of the business that was to be retained,” Tony explains.
“This created some difficult TUPE (employee transfer) issues which had to be negotiated and resolved with the seller and which required significant input from one of our specialist employment lawyers.
“There were also existing customer contracts which required the continuing participation of both the transferring and retained parts of the business.
“Our contracts specialist was involved in preparing ongoing service level agreements under which the transferring business and the retained business were to continue to run those contracts between them.”
As part of the acquisition, the clients also bought the premises from which the acquired part of the business operated.
However, the seller required the ongoing use of part of those premises.
“One of our specialist commercial property lawyers dealt with the purchase of the property and the lease-back, to the seller, of the part that the seller wished to retain,” Tony says.
“Finally, the property that was bought was subject to an ongoing dispute with a neighbouring property owner in relation to a boundary and right of access.
“This was investigated and reported on as part of the purchase process by one of our litigation specialists.”
As a consequence of the acquisition, the financial circumstances of the members of the MBO team had also changed significantly.
This led to them being referred to Jacksons’ wills specialists, who reviewed their estate planning and put new wills in place.
Erica Turner, partner and head of commercial property says: “Just because we work in separate departments, doesn’t mean we can’t also work as a team on behalf of the clients when that is required.
“We already work closely together on behalf of a number of different commercial clients across a range of sectors including industrial, pharmaceutical and retail.”
Deborah Henning, head of employment at Jacksons Law Firm, added the firm assists clients throughout the life cycle of their businesses.
“As an employment lawyer I am quite often brought into an acquisition process to review and report to the client on the existing employee issues within the business and manage the employee transfer process,” she says.
“My role, however, seldom ends there.
“There will often be measures that have to be taken, post-acquisition, such as the rationalisation of the consolidated workforce or the harmonisation of their employment terms.
“All businesses have recurring employee issues and so the support that I provide through the acquisition process tends to be only the beginning of my relationship with the client.”
She adds: “People come back to us because they build a positive relationship with us – and that’s down to good teamwork.”
So if you are in need of legal support in connection with a business acquisition or disposal, why call anyone else?
Call the A-Team on 0333 091 3200.