Armstrong Laundry, Successful Restructure and Sale
Continuum Corporate Lawyers Successfully Assist With the Restructure and Sale of Armstrong Laundry
Established in 1878, Armstrong Commercial Laundry Systems supply the widest range of industrial washers, dryers and commercial ironers. Armstrong Laundry sell and lease hotel laundry equipment and commercial laundry machines for launderettes, schools, care homes and more.
We have formed a strong working relationship with Armstrong Laundry and were more than happy to assist with the reconstruction to separate the two companies. This testimonial show demonstrates Continuum are the go-to team when it comes to restructuring your business.
Here’s What our Client had to Say
“Our Directors were all concerned that selling a successful private family owned business (established in 1878 and remained in our family since 1905) required complete trust in the way financial advisers and lawyers would handle the transaction. This transaction would need to be handles in most sensitive way possible for the benefit of our staff and customers. We also needed a great end result for our shareholders.
Five years ago, we met Robert Hankin, a senior partner at Continuum Corporate Lawyers. Due to various circumstances, we decided not to proceed with the sale of our U.K. and French businesses at the time.
We had, however, formed a strong relationship with Continuum. We called upon them when we needed to carry out a reconstruction to separate the two companies. The restructure was successful.
In mid 2017 the family made a unanimous decision to test the market again.
At that time we had been introduced to other well known corporate lawyers, but, whilst we concluded they would probably do a perfectly good job for us, their fee structures were not only extremely complicated, but also significantly higher than those offered by Continuum. Interestingly, had the sale of the business not gone through, then no fee would have been charged by Continuum, except for minimal out of pocket expenses. This would not have been the case had we used one of the other firms.
We have been so impressed by the personal way that Continuum have handled everything on a highly professional but sensitive and helpful basis. We were also impressed that Robert Hankin himself took a personal interest in guiding us through the whole procedure, rather than leaving it to his firm’s less experienced solicitors.
We consider our business relationship with Continuum has been a successful and pleasant one and I have no hesitation in recommending their services.”
Looking to Restructure Your Business?
As with our work in helping our clients to sell a business or acquire a business, we always time take to fully understand why a company reorganisation or restructuring may be necessary, and what sort of outcome is required.