Corporate Finance, Transaction services
Gerald Edelman advises on the sale of The Austin Company of UK Ltd (“Austin UK”) to The Austin Company US
We are delighted to announce that we have advised on the sale of The Austin Company of UK Ltd (“Austin UK”) to The Austin Company US. Austin UK, founded in the 1920s, is a design and construction management business, focused on complex scientific, research and manufacturing facilities.
The Gerald Edelman team, led by Carl Lundberg (Partner) and William Abell (Associate Director), were appointed by the selling shareholders at a late stage to advise on the financial and accounting aspects of SPA. We quickly identified that the proposed acquisition structure could be improved was inefficient for the selling shareholders from a tax perspective. We were able to suggested a number of alternative transaction structures, which were tweaked to meet the requirements of both the buyer and seller. Ultimately our advice resulted in a material tax saving for the selling shareholders. We remained on hand throughout the transaction to guide the sellers through the deal, navigating various different hurdles which arose along the way.
Prakash Davda, selling shareholder and outgoing managing director of Austin UK, commented: “I am extremely glad that we engaged the Gerald Edelman team to advise on this transaction. Their advice has proven invaluable, not only ensuring that the deal completed smoothly but also achieving a substantial taxation saving for me and the other departing shareholders. I extend my sincerest thanks to Carl and Will, whose pragmatism, knowledge and drive was key to securing the successful result. I would strongly recommend them both as corporate finance advisors.”