In June 2022, EasyIT, an Ohio-based managed IT support and services company, sold to NetGain Technologies, a multi-state regional IT services and solutions provider. Kegler Brown acted as legal advisor to the seller in all aspects of the transaction.
The M+A team at Kegler Brown advised Schoedinger Funeral and Cremation Service and its affiliated entities in its December 2021 sale to Service Corporation International. Schoedinger Funeral Home, which is based in Columbus and owns and operates 12 funeral homes while employing 180 people, was advised by Kegler Brown on all aspects of the sale transaction to the nation's largest operator of funeral homes, operating 1,458 funeral service locations and 485 cemeteries.
In August 2021, Kegler Brown acted as the legal advisor to J.E. Grote Company, Inc., and its affiliates in all aspects of its acquisition of the Precision Food Innovations Division business from Precision, Inc., a company that specializes in bulk material handling and conveying equipment for the food processing and packaging industries. The Grote Company is a family owned and operated manufacturer of food processing equipment and is the leading manufacturer of slicing and food assembly equipment for companies throughout the world.
In April 2021, Kegler Brown acted as the legal advisor to Abrasive Technology in all aspects of its receipt of a private equity investment from Blue Sea Capital, a private equity firm based in West Palm Beach, that invests in growth-oriented lower-middle-market companies valued up to $250 million. Abrasive Technology, with more than 140 registered patents and trademarks, is a global leader in custom superabrasive grinding wheels and tools.
The M+A team at Kegler Brown advised Kent Water Sports and its related entities in its December 2020 sale to Seawall Capital. Kent Water Sports, a platform of action sports brands with products spanning personal flotation devices, wakeboards, water skis, towable tubes, snowboards, and more, was advised by Kegler Brown on all aspects of the sale transaction to Seawall Capital, which is a middle-market private equity firm focused on making investments in companies with strong connections to their end consumers.
Kegler Brown Hill + Ritter assisted India-based Strides Pharma, Inc., in the acquisition of an FDA- approved manufacturing facility in Florida.
Located in Riviera Beach, Florida, it is the only FDA-approved facility in the U.S. to have integrated manufacturing-packaging capabilities for soft gel capsules.
Strides acquired the manufacturing facility under an asset purchase agreement with Micelle Biopharma, Inc. for a consideration of $0.5 million and will invest up to $10 million to build incremental capabilities and add additional dosage formats. With the addition of the Florida site, Strides now has eight formulation sites globally catering to the regulated and emerging markets.
Kegler Brown Hill + Ritter served as buy-side counsel for India-based Strides Pharma, Inc., in its acquisition of U.S.-based generics company Vensun Pharmaceuticals, Inc., represented by Goodwin Procter LLP.
Strides benefits from Vensun’s strategic focus on niche ANDAs, and its portfolio of 16 commercialized ANDAs, four of which are partnered with Strides and constitute a significant part of Vensun’s current revenues of $~17 million.
Vensun’s portfolio also comprises an additional 13 filed ANDAs, which includes Strides Competitive Generic Therapy (CGT) designated product with a $400 million market opportunity. The company also has a development pipeline with two other partners for ten products.
We assisted a growing West Virginia-based beverage distributor through a series of strategic transactions in 2016 and 2017, including the acquisition of distribution rights, real estate, and inventory from a distributor in an adjacent territory with operations in two different markets in West Virginia. This acquisition made our client one of the largest beverage distributors in the state.
Our assistance included the negotiation of a new credit facility to finance the acquisition and to re-finance existing debt, as well as the sale of distribution rights and inventory of our client’s Ohio and Kentucky franchises. We also provided guidance on the reorganization of their corporate structure in order to permit more streamlined post-closing operations and additional future growth, as well as tax strategy and transition issues.
Our client, a food safety consulting and research business, sought our advice for its sale to a private-equity fund in 2017, and we provided them with assistance from letter of intent to closing, as well as post-closing personal and estate planning.
This assistance included deal structure and strategy, terms of earn-out and contingent consideration, and advice on applying working capital adjustment to a cash-basis company. We also provided guidance on tax strategy, risk mitigation, and transition issues, and assisted with post-closing estate and tax planning for the client’s family.
