1st June 2009
Despite the very difficult corporate sales marketplace the owners of Ed’s Easy Diners have successfully concluded a sale of the parent company for an undisclosed sum. Cobham based solicitors Mundays LLP advised the sellers on the disposal of the restaurant chain, which operates American style diners at landmark locations in London’s Soho, the Trocadero Centre and Bluewater.
Mundays worked closely with long standing adviser to the sellers, Andrew Kaye, a partner of UHY Hacker Young LLP who provided accountancy and tax advice to the sellers. Law firm McGuireWoods LLP advised the purchaser, a management buy-in team led by Peter Featherman, who is backed in the venture by investment group Rankvale, a widely known investor within the European property sector.
Neale Andrews, partner in the corporate department of Mundays, led the transaction for the sellers alongside corporate assistant Fiona Butler. He comments, “We are extremely delighted for all concerned to get the transaction away in what has been a very difficult market”.
Mark Sheehan, managing director of Coffer Corporate Leisure, who brokered the transaction on behalf of the sellers, pointed to the interest expressed within the industry prior to the sale which culminated in several offers from private equity buyers attracted by the “undoubted roll out potential” of the much loved Ed’s brand.
Mundays LLP is a substantial regional practice, with notable corporate, commercial and property expertise together with a full range of private client services, including family, private wealth, dispute resolution and employment.
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Within this edition of Mundays Business update you will find legal articles that we hope you will find useful and help you understand when you might need to seek legal advice.
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