FDR Law advises John Downes on the buyout of Langtree’s public sector division.
The commercial team at Warrington based FDR Law has advised John Downes the former Chief Executive of The Langtree Group in the management buyout of the Group’s public sector division.
The transaction sees Downes step down from his current role to lead and take a majority shareholding in the new company, Langtree Property Partners. The new company takes over ownership and responsibility for a range of existing public sector development partnerships.
Langtree Property Partners assets include Sci-Tech at Daresbury, the former Parkside Colliery site, Wire Regeneration the joint venture with Warrington BC and Hollinwood, a development agreement with Oldham Council.
The new company is to be chaired by AMION Consulting Chairman Tim Johnston and current Langtree Group Finance Director Malcolm Jackson joins Langtree Property Partners as Financial Director.
John King, Commercial Partner at FDR was lead advisor to the management team together with Corporate Partner Margaret Evans, Commercial Property Associate Lynne Cook and Eleanor Woodall.
King said: "This was a complex deal involving a number of parties including four separate local authorities and associated joint venture vehicles. We were delighted to advise John and Malcolm who have been existing client’s of the firm for nearly five years and we wish them and their management team every success with Langtree Property Partners."
John Downes, added: "The FDR team delivered above and beyond on this deal with expert advice at every stage of the transaction. They remained very focused and their clarity and assistance was invaluable"
With over 25 years experience, John King has acted for a large number of businesses on a wide variety of commercial matters, including corporate issues, commercial contracts, employment, insolvency and restructuring, dispute resolution and major landlord and tenant litigation.