Lichfield law firm Keelys and chartered accountants Bloomer Heaven in Birmingham have carried out the legal work and corporate finance in a management buy-out of a long-established floor covering, soft furnishing and upholstery companies.
LGM in Kidderminster - which recently celebrated its 60th anniversary - has been sold to its management team for an undisclosed amount. Daniel Keane, managing partner of Keelys acted for Tom Little, the son of Thomas Little the owner who launched the original flooring company in 1946.
The legal work, which was carried out by Daniel and the corporate team at Keelys involved negotiating the sales agreement and the property documentation.
The deal was brokered by Jay Boyce, partner at Bloomer Heaven who was also responsible for arranging the corporate finance funding.
Gareth O'Hara of The Wilkes Partnership acted for the management team, which includes managing director, Richard Markall and finance director Susan Scott.
Tom Little has been retained as LGM consultant.