Kent-based paper merchant, Denmaur Paper Media has taken the next step on its growth journey as former chief executive of US paper merchant Gould Paper Corporation, Harry E Gould Jr, joins as a majority shareholder.
The multi-million-pound deal follows a restructure of Denmaur in July last year, splitting Denmaur Independent Papers into two trading divisions. The depth of experience and investment that Harry Gould brings to the newly structured company will allow them to capitalise on those changes and generate new growth opportunities.
Speaking about the deal, Mike Gee, who will continue as Chief Executive alongside Nick Gee as Managing Director said: “We are delighted that Harry and his brother, Robert, share our future ambitions, along with our values of the importance of relationships with customers, suppliers and our staff.”
The team at asb law have worked with Denmaur for many years and were delighted to support them throughout the sale. Having been involved in the deal from the start, asb advised the majority shareholders, as well as managing the process for the sale of 30 minority shareholdings. asb also advised in relation to the new articles and shareholders agreement for the business going forward. Gullands Solicitors were acting for Harry Gould.
In order to ensure that the deal completed smoothly, a collaborative approach was taken, with the lawyers on both sides of the transaction working together towards the same goals. This allowed the strong relationship between the business owners and the new investor to be maintained. Speaking about working in this way, Claire Williams, Partner at asb law who led on the transaction said: “Working in a collaborative way with the Gullands team helped us achieve the best outcome for both the buyer and the sellers, and ensured any hurdles were easily overcome as both sets of advisers were focused on achieving a successful deal”
Sarah Astley, who led the deal for Gullands Solicitors also added “It has been a great pleasure to work with Claire Williams and her team at asb to complete on this exciting project. Their sensible approach and commitment to meeting the tight deadlines ensured a satisfactory conclusion for all parties. We wish them well in their future working relationship.”
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