Essex law firm completes $31 million sale

Essex law firm completes $31 million sale

THE Commercial and Corporate Finance team at Birkett Long has completed a $31 million international share sale on behalf of the shareholders of Cognitran Limited. The transaction was completed within a very tight timescale.

Ben Schneider, Business Development Director at Cognitran, said: “Birkett Long advised us on the $31 million sale of Cognitran. They were with us through every step in the process, understanding our business and completing a complex multinational transaction requiring specialist legal knowledge in a number of areas. Tim provided clear and calm advice throughout the process and was happy to roll up his sleeves to help us meet a very aggressive timetable, while Tracey was able to utilise her knowledge and experience to provide innovative solutions and skilfully negotiate an agreed path to completion.”

Tim Field (pictured), Associate Solicitor in the Commercial and Corporate Finance team at Birkett Long, said: “The buyers were based in America and our clients were based in England, America and Poland. We worked closely with a tax adviser to determine any adverse tax consequences that may arise particularly relating to a number of EMI options that crystallized immediately before completion. The addition of the EMI option holders to the share sale meant that a detailed and complex process needed to be followed to ensure all the parties were adequately protected and received the proceeds of sale that they were entitled to.”

The capability and experience of Birkett Long’s team means they support businesses of different shapes and sizes through transactions of varying value. From small, relatively new businesses up to large enterprises, specialist commercial lawyers provide an efficient and pragmatic service assisting clients to realise their plans.

With a solution-finding approach, Birkett Long’s commercial lawyers act as facilitators, committed to helping record clients’ transactions and business relationships in the way they choose, in conjunction with specialist guidance and expertise.

One of the firm’s key strengths is the ability to tailor the process to the matter size – ensuring value for money and a commercial approach.

Birkett Long has offices in Chelmsford, Colchester, Basildon and London. With 25 partners, it provides a wide range of legal and independent financial services for business including corporate and commercial advice, dispute resolution, education, insolvency, intellectual property and employment and for individuals: wills and conveyancing, family law, independent financial advice, dispute resolution and accident and negligence claims.