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 2015)

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 protection solutions.

Graham Stonehouse, Microgard founder said "We are pleased that Microgard is joining forces with Ansell, the recognized world leader in protection solutions.

 "Ansell's global reach, commitment to quality, and record of innovation will deliver immediate value to our business, our people, and our partners.

"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 Cologne).

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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