Fox Williams advised Jim Lewcock and various other founders on the sale of their shareholdings in The Specialist Works Limited by virtue of a management buyout.
The Specialist Works employs more than 200 people and operates across 40 countries. The MBO was financed through cash revenues and a loan from Santander.
Fox Williams partner, Paul Taylor who was assisted by Senior Associate Hannah Elliott, commented “It was a pleasure to assist the Lewcock family in exiting from the business even though it was an emotional wrench for them.
Founder Jim Lewock said “From a single desk in Brick Lane to over 200 desks from Beijing to LA, it’s been an epic journey. Many of us have grew up together at The Specialist Works. I’ll miss the folks dearly and look forward to watching the continued wondrous growth.”
PDT solicitors acted for the management team and corporate finance advice came from Highstead Partners, with tax advice being provided by Wilkins Kennedy LLP.