mergers & acquisitions
entrepreneurs law group represents buyers and sellers across a number of industries. Kevin Hendricks has over 25 years of experience in mergers and acquisitions and understands the different issues facing strategic and financial buyers and sellers.
Kevin has represented a number of business owners selling their businesses to private equity-backed buyers. Among other industries, Kevin has particular experience with insurance agencies selling to national insurance brokers with a growth strategy that relies on acquisitions. These acquisitive buyers often purchase businesses for a combination of cash and their own equity, which creates a number of issues for sellers to consider.
It’s not uncommon for sellers to sign a term sheet or letter of intent and then call a lawyer. This penny-wise, pound-foolish approach often results in sellers being allocated more risk in the transaction. (Although most term sheets and letters of intent aren’t binding, in practice it is difficult to re-negotiate terms during the course of the deal.) Whenever possible, your lawyer should be involved at the earliest stages of a deal before the terms are set. Working with a client’s accountants and/or investment bankers, Kevin can get a sense of potential issues and develop solutions to address them in ways that benefit the client.
Case Study: Not long after merging their sizable scrap metal operations in the Carolinas, the owners of Recycle South sold their interests to Steel Dynamics, Inc., a publicly traded steel producer. Kevin Hendricks represented the selling owners in a cash and stock transaction valued at over $500 million.
Case Study: Milliken & Company sought to acquire Constantine Carpets, a niche high-end carpet maker. Kevin Hendricks represented Milliken in connection with the purchase of this business from a Boston-based national private equity fund.
Case Study: entrepreneurs law group was approached by a new client with a simple request – structure the acquisition of a struggling business quickly and cost-effectively. Kevin Hendricks helped the client structure a transaction that allowed the client to acquire the business before it declined further, while helping assess and minimize risks to the client. The purchase price was less than $1 million, and Kevin used a streamlined set of documents proportionate to the deal size.
Descriptions of prior transactions or case studies are for informational purposes only. Past success does not indicate the likelihood of success in any future legal representation.
