Rollits advise on high value sale of Microgard to Ansell
Hull and York commercial lawfirm Rollits has provided the legal advice to the shareholders ofMicrogard on its sale to global protective solutions group Ansellfor £59 million. The sale completed today (30 April2015)
Founded in 1975 in Hull, Microgarddesigns and manufactures protective clothing and products to morethan 75 countries. In addition to its Hull head office, the companyhas a German subsidiary and manufacturing subsidiaries in Xiamen,China. It employs 750 people across its group.
Founded over 100 years ago,Ansell designs, develops and manufactures a wide range of personalprotection solutions.
Graham Stonehouse, Microgardfounder said "We are pleased that Microgard is joining forces withAnsell, the recognized world leader in protectionsolutions.
"Ansell's global reach,commitment to quality, and record of innovation will deliverimmediate value to our business, our people, and ourpartners.
"I am grateful to the Rollits'team for their expertise and positive outlook which gave greatconfidence and reassurance."
Microgard's finance directorKieran Eblett worked closely with Ansell and the professionaladvisors throughout the sale.
Nasim Sharf at Rollits ledthe team which provided legal advice to Microgard and itsshareholders, supported by Craig Engleman(corporate), Chris Crystal (property), JamesPeel (commercial) and Ed Heppel (employment). Rollits co-ordinated specialist advice relating to Chinese law(provided by Jason Carmichael and his team at Smyth & Co, inassociation with RPC, based in Hong Kong) and German law (providedby Dr Jörg Heyer and his team at Seitz Partners based inCologne).
Lead corporate finance advicewas provided by Tom Spencer of Bishopsgate Corporate Finance whonegotiated the deal and project managed the transaction on behalfof the Sellers.
PwC prepared the vendor duediligence and gave specialist Chinese tax advice. Baker Tilly'sHull office provided UK tax advice.
Nasim Sharf commented:"Rollits are delighted to have helped complete this complex,international transaction on time. I was especially pleased thatour network of trusted law firms in different jurisdictionsdelivered seamless advice across time zones from New York toSydney. Microgard is an impressive business and we wishAnsell every success with it".
This article is for general guidance only. It provides useful information in a concise form. Action should not be taken without obtaining specific legal advice.