Jeremy Redfern, Head of Commercial and his team have acted in the share sale of Severn House Publishers Limited.
Surrey-based Severn House Publishers Limited was sold for an undisclosed sum to Scottish publishers, Canongate Books Limited. Canongate acquired Severn House and all its staff, with the principal owner, Edwin Buckhalter, continuing in a consultancy role. Severn House have moved their editorial team to Canongate’s London offices.
Edwin Buckhalter said: "Parkinson Wright have been our trusted advisors for nearly 40 years, both to the business and to ourselves personally. Their deep understanding of our business and people made them the first choice to lead an international team to negotiate the sale of our business, and they displayed exemplary professionalism - and patience with me, especially in the last frenetic week - amidst many legal complexities in bringing about a successful and amicable closing."
Jeremy Redfern said: “Apart from the negotiation specifics and technical complexities one might expect in a transaction of this size and character, there were some interesting cultural and practical challenges to meet”.
“Canongate were represented by Scottish lawyers, Severn House continued to receive advice from their long-standing New York Attorney, Jill C Lesser, and Edwin and his family were committed to a working holiday in South Africa in the critical weeks leading to completion. Thanks to the commitment and professionalism of Severn House’s team, closure was achieved with minutes to spare before the public announcement of the deal was issued. I was delighted we were able to deliver this sale for Edwin and his family and hope that this will enable him in due course to “slow down” his business activity”.
The sellers were also represented by Charles Davey and his corporate finance specialists at Worcester-based accountancy firm, Bishop Fleming.
If you would like expert legal advice regarding your commercial business please contact Jeremy Redfern, Partner and Head of Commercial on 01905 721600.