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Higgs helps to cut the right deal for two respected businesses
Article date: 02/09/2013
Leading law firm, Higgs & Sons has been instrumental in shaping the future of two Midlands companies who are joining forces in a deal steeped in history.
Addison Saws is taking over Cradley Heath-based Dynashape in the deal overseen by specialist corporate lawyer, Jamie Partington from Higgs & Sons. Associate solicitor Stewart Coles dealt with the related property arrangements.
Addison Saws, based at Lye, near Stourbridge, is the market leader in importing state-of-art metal sawing machines while Dynashape pioneered the use of sophisticated machinery to resharpen blades.
Both companies - founded in 1956 and 1961 respectively - have since branched out into wider areas of the sawing market.
Gary Knight, managing director of Addison Saws, said the new deal made perfect commercial sense for both companies - but also had a sentimental feel.
Mr Knight said Addison Saws currently employed 32 people while 18 people worked at Dynashape. All the jobs would be safe and staff would continue to operate at both sites for the foreseeable future.
"Both are long-established Midlands companies which have led the way in their respective fields and I am delighted that we have been able to bring them together in this way. There is certainly a sentimental element to the deal because of the histories of the companies involved, but it also makes hard-headed business sense.
"There is a real synergy behind the deal which will benefit everybody. Dynashape are the masters of what they do and so we are acquiring a really strong skills set. They also have an excellent customer base for us to build on."
Mr Knight also paid tribute to the work done by Higgs and Sons' corporate lawyer Jamie Partington in helping draw up the deal.
"We have had excellent advice from Jamie and his colleagues at Higgs. As well as pro-actively protecting my commercial interests they have acutely understood the sentimentality behind the deal."
Jamie said the deal had taken around a month to take shape.
"It is particularly pleasing that we have been able to help two Midlands companies with such a proud heritage as a result of this arrangement."
Higgs & Sons works from two offices in the Black Country - Waterfront Business Park in Brierley Hill and Kingswinford. The firm employs more than 200 people, which includes over 100 specialist lawyers.
For specialist advice on all aspects of corporate law, contact Jamie on 0845 111 5050 or email email@example.com
Picture: l-r Jamie Partington, Stewart Coles and Gary Knight