Rollits advise on high value sale of Microgard to Ansell
Hull and York commercial law
firm Rollits has provided the legal advice to the shareholders of
Microgard on its sale to global protective solutions group Ansell
for £59 million. The sale completed today (30 April
Founded in 1975 in Hull, Microgard
designs and manufactures protective clothing and products to more
than 75 countries. In addition to its Hull head office, the company
has 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 personal
Graham Stonehouse, Microgard
founder said "We are pleased that Microgard is joining forces with
Ansell, the recognized world leader in protection
"Ansell's global reach,
commitment to quality, and record of innovation will deliver
immediate value to our business, our people, and our
"I am grateful to the Rollits'
team for their expertise and positive outlook which gave great
confidence and reassurance."
Microgard's finance director
Kieran Eblett worked closely with Ansell and the professional
advisors throughout the sale.
Nasim Sharf at Rollits led
the team which provided legal advice to Microgard and its
shareholders, supported by Craig Engleman
(corporate), Chris Crystal (property), James
Peel (commercial) and Ed Heppel (employment).
Rollits co-ordinated specialist advice relating to Chinese law
(provided by Jason Carmichael and his team at Smyth & Co, in
association with RPC, based in Hong Kong) and German law (provided
by Dr Jörg Heyer and his team at Seitz Partners based in
Lead corporate finance advice
was provided by Tom Spencer of Bishopsgate Corporate Finance who
negotiated the deal and project managed the transaction on behalf
of the Sellers.
PwC prepared the vendor due
diligence and gave specialist Chinese tax advice. Baker Tilly's
Hull 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 that
our network of trusted law firms in different jurisdictions
delivered seamless advice across time zones from New York to
Sydney. Microgard is an impressive business and we wish
Ansell every success with it".
Posted on: 30/04/2015
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.
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