DeAngelis Legal negotiated the terms of the letter of intent and purchase documents and assisted the closing of the sale of the business of a long time corporate client in Phoenix. DeAngelis Legal had represented the entity since formation over 20 years ago. Over the years, DeAngelis Legal provided advice on a variety of business and legal issues as it grew to be the largest and most well-respected business in its industry. DeAngelis Legal assisted the owners with the negotiation of all aspects of the transaction, the review and editing of the legal documents, the formation of the related entities and the closing. As seems the norm with these types of private equity transactions, the deal was structured as an “F” re-organization, to simplify the sale process, yet give the buyer its desired tax benefits. For more information on the common terms and provisions to consider in letters of intent see Letters of Intent and for a brief description of the “F” reorganization structure see Mergers and Acquisitions – the “F” Re-organization.
