Lodders advises owners on sale of TV and film props hire business
The corporate team at law firm Lodders has advised the owners of furniture and props hire business Granger Hertzog Limited, on its sale to a new company owned by the founders, management and an employee benefit trust set up for the benefit of its workforce.
Established in 2004, Granger Hertzog offers high-quality and stylish modern and period furniture and props for hire for film, television, commercials, photography and events via its website and London showroom.
Graham Spalding, partner in Lodders’ corporate and commercial team, provided advice on the sale. He says: “The sale of Granger Hertzog will see the founder shareholders, Karen and Careen, transition the business over time to new management that is a team of professionals who know the business intimately, and are well placed to take it forward.”
After twenty years in the film industry designing and decorating sets, Karen and Careen created their company to be ‘a thoughtful, inspiring space’ where clients can find high-quality and stylish contemporary furniture and lifestyle pieces for hire. “They have established an exceptional reputation in their specialist field for offering clients a furniture and prop hire experience that is unrivalled in the industry,” adds Graham
Commenting on the deal, Karen Granger says: “At all the stages of the process, Careen and I felt totally supported by Graham and his team – they were clear and patient.”
Careen Hertzog adds: “We both really appreciated the calm and collaborative nature of how the deal was put together and look forward to working with Lodders again in the future.”
Paul Southern of Woodside Corporate Finance Limited was lead advisor on the deal, with tax advice being provided by Lisa Stevenson of Parisi Tax.
Paul explains: “Karen and Careen have built a very impressive and successful business and its great to see it passing on to a new generation, but with continuing guidance and involvement of the founders.”
The deal follows hot on the heels of Lodders corporate and commercial team’s work for Whitehouse Industries Limited on its sale earlier this month (September) of specialist Diaphragm Pump business, Flotronic Pumps Limited, to US corporation Unibloc.
Lodders Solicitors LLP is the premier law firm in Warwickshire, the West Midlands, the Three Counties and the Cotswolds, and offers expert legal advice to owner managers and business owners looking to divest, grow and raise finance. For more information: www.lodders.co.uk.