Buyer consortium provided with assistance for due diligence and drawing up agreements
When a buyer consortium in 2019 took over fashion and clothing company Day Birger et Mikkelsen, Holst, was a part of the whole transaction process right from the beginning. Legal assistance provided from Holst, comprised, among others, due diligence and the negotiation and conclusion of several agreements.
Day Birger et Mikkelsen, a fashion and clothing business founded in 1997, was taken over in 2019 by a buyer consortium following several years with declining financial results.
With partner Anders Hedetoft as facilitator, Holst, represented the buyer consortium during the entire process right from the beginning until the end; services included legal advice on agreements, financing, closing, etc.
Hence, the assistance from Holst, also comprised a legal due diligence and the drafting of various agreements and contracts, including all legal aspects pertaining to taking over staff, assignment of trademark rights domestically and abroad, entering into agency and franchise agreements, and more. A part of the agreement setup was also that the seller was to reinvest some of the money in the new setup, and a new structure was to be established in the holding company.
The agreement was concluded on the basis of a short and intense negotiation process.
At present, the buyer consortium is successfully realising a turnaround of the acquired activities.