Maidenhead: IBB corporate team advises on the disposal of Hiremech to Briggs Equipment
Adam Dowdney, partner and head of IBB’s corporate commercial team, led the IBB team advising Paul Green and Roderick Smith (sellers) on their disposal of the entire issued share capital of Hiremech Holdings and its wholly-owned subsidiary, Hiremech, to Briggs Equipment UK.
The Hiremech brand has been a successful independent dealer in North London for over two decades, specialising in hiring, trading and servicing fork lift trucks. The acquisition will provide momentum for Hiremech’s further growth as part of the Briggs’ brand, with Green remaining involved in the business as it continues to develop.
The sellers were advised by Dowdney, Michelle Waligora, Azra Yousuf and Laura Jarrold of IBB's corporate commercial team; partner, Richard Devall of the employment team; and, Jeff Elphee and Katherine Bereza of the real estate team.
The buyer was advised by Pinsents Masons LLP.
Commenting on the deal, Dowdney said: “We are delighted to have been able to assist the shareholders with this sale and the new chapter that follows for Paul and Hiremech as part of the Briggs Group. All parties involved worked tirelessly to complete the transaction within the intended timeframes, and IBB demonstrated the commercial approach and flexibility required to assist with the disposal as well as the future relationship between the parties going forward. We wish Paul and the Briggs team all the best for what I am sure will be a very successful future.”
Green, majority seller, commented: “We were very impressed with the service offered by Adam Dowdney, Michelle Waligora and Richard Devall and the team at IBB Solicitors. Their experience and professional approach helped ensure we completed this sale with the commercial terms and timescale we were happy with. The sale of a private company is emotional, and Adam's calm sensitive approach helped smooth that part of the process”.
