David Pierce, a private investor has invested in Dave Jessop Ltd, a Yorkshire industrial roofing and sheet metal fabrication business. Dave Jessop is a family-run business specialising in industrial, domestic and agricultural markets. They provide products to their local area as well as to a wider UK market. This acquisition is set to see Dave Jessop Ltd thrive under David Pierce and his team lending their invaluable skills to grow the business. Mackrell Solicitors provided legal advice to the sellers of this acquisition.
“More than just the transaction.”
Q&A with Guvvy Sandhu (GS) and Chris Lane (CL)
Could you describe the role of Mackrell Solicitors in the acquisition of Dave Jessop by David Pierce and the key contributions you and your team made to this transaction?
– Guvvy Sandhu is an experienced corporate lawyer and together with the team at Mackrell made sure that a key focus was more than just helping clients with receiving an investment.
A corporate transaction (regardless of its nature) always begins with two key questions:
- What is the reason for the transaction?
- What are the clients aspirations once the transaction has completed?
The nature of these questions means that the negotiations and related paperwork is then crafted around the responses to these questions and ensure that the commercial reasons for the transaction itself are the forefront.
If such questions are absent then the risk is that a transaction becomes mechanical and not client focused.
What made Mackrell Solicitors the best suited team to work with Dave Jessop on this acquisition?
– The responses to this question could be the basis of its own article!
With a wealth of experience in deal structuring and advisory, the team at Mackrell solicitors were able to guide our clients as to what is relevant and what is not. This ensured a seamless and efficient negotiation as all parties were concentrated on the transaction specific item and not, “A negotiation for the sake of a negotiation.”
Early stage due diligence – the team at Mackrell always review due diligence from both the perspective of an investor and target business so that any potential areas of discussion and opportunity can be considered and managed at an early stage.
This meticulous approach empowers all parties with the knowledge to make an informed decision from the beginning. This in turn supports the parties in intentions to look beyond completion and into the future as partners.
How do you manage the relationship between your client and the investor and how does this impact the success of the project?
– It is always key to explain to clients that their commercial relationship with their investor should remain at the forefront of the process. The transaction does not stop at completion. Both parties have made a commitment to the future in terms of either a return on their investment or a prospective return on an investment.
What kind of support post deal do Mackrell Solicitors provide its clients such as, Dave Jessop and how is this critical for the business’ success?
– As a full service law firm we ensure every client has the opportunity to benefit from the full extent of our services. What this often means for our corporate clients, post deal is an introduction to our private client team, enabling the client to create or adjust their will and lasting power of an attorney.
For client needs beyond legal services we have a tried and trusted network of professional service providers in the world of banking, accounting and wealth planning that we can call upon to build a team of advisors saving time and money from a client perspective.