Complex Buy-out Transaction

Summary: We represented two sons and a sophisticated outside investor in the purchase of a successful insurance business from its founder, the sons’ father. Negotiations were challenging, touching on sensitive issues concerning succession planning, business valuation, structuring of a bank loan to finance the purchase, and the founder’s continuing role in the business. Additional post-closing work to help put the business on a path to succeed included drafting of executive employment agreements and a Buy-Sell Agreement, and raising additional funds via issuances of preferred stock.

Result: Calling on our perseverance, listening skills, and creative, careful drafting, we were able to help our clients complete a successful buy-out, and to structure the company for future success.

Attorneys and Paralegals:
Michael A. Futterman, Tim Gallagher (paralegal)