For a number of years prior to the sale, one of the lawyers at Kirk Larsen & Ascanius was member of the Board of Directors in Actona Company A/S, and thus he had a thorough knowledge of the company’s affairs, including the subsidiary companies in China and the Ukraine.
We advised the shareholders in Actona Company A/S during the entire sales process, from the first considerations to sell the business until the final completion of the transfer. Apart from the founder, who was still the main shareholder in the company, the circle of owners consisted of three executive employees. Relatively shortly after the decision was made to sell the business, the founder unfortunately passed away, and one of our lawyers was appointed administrator of the estate. Representing the beneficiaries of the main shareholder we did not only act as advisers but also as decision-makers in the sales process.
The work related to the completion of the sales process comprised assistance in connection with the selection and conclusion of an agreement with the sellers’ corporate finance adviser, participation in negotiations with the purchaser, drafting of Letter of Intent, participation in the due diligence process, assistance in connection with the conclusion of a share purchase agreement etc. as well as preparation of and participation in closing. During the process, there was an ongoing need for clarifying various issues on the part of the seller in order to appear as a unity to the purchaser.
It was of paramount importance to the main shareholder that the company would remain an independent business headquartered in the Holstebro area, and that the company would continue to uphold the core values on which the company was based. The operation after the sale and the results created have proved that Lars Larsen Group was the absolute right new owner of Actona Company A/S.