Management buyout of farm consultancy business
By Matt Hall | 24th August 2020
Cheltenham-based law firm BPE Solicitors and accountancy firm Hazlewoods have acted for the management team on the buyout of FAI Farms Limited.
The new management team has acquired the entire shareholding of FAI Farms Limited for an undisclosed amount.
FAI Farms Limited is a research, data and consultancy business working to provide practical solutions for climate and food security based in Oxford.
The management buy-out marks the latest step in growth plans.
BPE corporate partner Adam Kean led the legal side of the deal with support from associate solicitor Angharad Doyle, advising the management team on the buyout of the business, securing the transaction and completion.
Mr Kean said: "We were delighted to work with the management team on this buy-out and to work alongside Hazlewoods on the transaction. It shows that despite a difficult marketplace, businesses are growing".
Rich Grover, corporate finance senior manager at Hazlewoods provided the accountancy support, with partner, Peter Woodall, providing tax support to the management team.
Commenting on the deal, Mr Grover said: "We are pleased to have advised Øistein and the new management team on their buyout and wish them all the best for their growth plans. The transaction demonstrates that, despite continued uncertainty in the global economy, deals can still be completed as strength returns to the M&A market".
Øistein Thorsen, the newly appointed CEO and managing director of FAI Farms said: "I am very grateful to both BPE and Hazlewoods for their expertise and guidance of our buy out. This is an exciting time for FAI and we are delighted to be starting in a strong position thanks to Adam and Rich".
The new owners and management team now comprises of Mr Thorsen, CEO; Kelly Watson, director of consultancy; Karl Williams, director of key accounts; Carly Scott, director of sustainable operations; Ralf Onken, director of data development; Clare Hill, director of agriculture strategy; and Murilo Quintiliano, director of aquaculture strategy.
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