What was the case?
A leading provider of entertainment to the UK and overseas travel and holiday sector successfully completed a £1.35million management buyout (MBO) with the support of FBC Manby Bowdler Corporate Lawyer, David Preece.
TED Group, which was originally incorporated in 2001 and which has been owned by Qdos since 2007, was taken through the MBO process by Robin Breese-Davies, CEO, and Amanda Donohue, MD.
The move came after a period of sustained growth and diversification for the business which originally specialised in UK holiday entertainment, before evolving in to the leading provider of entertainment in the travel sector (both UK and overseas), as well as on the high street and in casinos.
How did we help?
David advised not only on the acquisition of a group of companies and the funding documentation but also on setting up a structure for the buying company including granting options to key personnel and preparing a shareholders’ agreement.
Commenting on why he and business partner Amanda Donohue sought legal advice from FBC Manby Bowdler, Robin Breese-Davies commented: “This move marks an exciting new era for TED as we extend our reach even further globally. TED Group provides quality entertainment solutions and is a leader in its field and so it made sense that we should seek legal advice from a firm that understood our future aspirations”.
What was the outcome for our client?
“We engaged with FBC Manby Bowdler at the recommendation of our accountants, Morgan & Griffiths, and have been delighted with the work that David Preece and the team have done for us.
They’ve shown utmost support and thoroughness throughout this crucial MBO process and they’ll now be the corporate and commercial lawyers for TED Group moving forward.”
David Preece of FBC Manby Bowdler adds: “Robin and Amanda work in a fascinating area of the entertainment business and it has been a pleasure to support them through their recent buyout process. As they look forward to further growth both here and overseas, we’re delighted to support them on their future legal needs.”
Please contact David Preece in our Corporate Department should you have any queries on the above.