Shareholder Negotiation and Sale of Fire Safety Company Stock
In 2024, Kegler Brown Hill + Ritter served as counsel when the sole shareholder of a commercial fire safety company sought to sell not only their stock but also treasury stock held in reserve by the company, to four individual purchasers whose expertise would then be utilized to help expand the business.
Our attorneys helped the client make sure payment of the purchase price was structured in a way that permitted the purchasers to pay down the promissory notes at certain times, but still provided protection to the client and their company, so that each received the relevant funds plus interest, without putting additional financial strain on the purchasers. This transaction also helped accomplish the client’s secondary goal of putting a succession plan in place.
In addition to the transaction documents, Kegler Brown also amended relevant organizational documents to account for new ownership and a new governing structure.