A partner at Knights believes patience and a strong client relationship was key as the law firm successfully advised on the buyout of a Black Country business.
Philip Chapman was part of the Knights corporate team worked on behalf of buyers looking to acquire JPM Broking Services.
The company, a leading insurance broking services provider in Halesowen, was founded by Andy Bullingham in 2005 to provide commercial insurance solutions for all business types – specialising in areas including haulage, transportation and manufacturing and engineering.
The business has now been acquired by directors Alex Davis and Wes Griffiths.
Speaking after the deal’s completion, Philip Chapman said this buyout has been a long time in the making: “We’ve known, and have been working with, Alex and Wes for approximately a decade and believe our relationship with them helped act as a solid foundation for a successful buyout.
“Our legal advice covered corporate, tax, employment and regulatory matters and the collaborative approach was vital in bringing this to a smooth conclusion.
“We also carried out due diligence into the company to ensure our clients can be confident in knowing that what they’re buying is in good shape and there’s no hidden liabilities. Once this aspect was complete, we then negotiated the share purchase agreement and funding.
“As lawyers, we have extensive experience in these processes so it’s great to have the support of clients like Alex and Wes who allowed us to share our expertise in the right way.
“I think this deal is a positive sign for the region as, under a set of new, young directors, it secures the future of a well-respected business in the Black Country.”
Speaking on behalf of the new owners, Alex Davis said: “We are excited to be taking the business forward and building on the established client relationships in the region working with both clients and intermediaries.
“We value the relationship that we have with Knights and the extensive advice they provided as part of this buyout. We look forward to working with the team as we expand the business.”