Commercial Finance and Transactions

Gerald Haberkorn and his capable team recently negotiated a stock purchase agreement for a portion controlled frozen meat company with $100 million in annual sales. They prepared corporate authorization documents to effect the stock purchase between majority shareholders. In addition, they represented the corporation in closing of the stock purchase agreement while simultaneously sourcing and acquiring a new $30 million credit facility. To complete the transaction, they assisted the new majority shareholder in successfully transitioning new officers and plant level management without interruption to business flow.

Negotiation of new $30 million credit facility included three separate facilities to further the expansion of business as well as fund a portion of the stock purchase. Loan terms included revolving credit facility, term obligations and mortgage loans. The team prepared all necessary documentation to effectuate the new facility while retiring two existing smaller facilities. Transaction documents prepared included three loan and security agreements, personal and corporate guarantees, numerous patent, trademark and license agreements, term notes, stock and note pledge agreements as well as director and shareholder resolutions, affidavits of officers and legal opinions of the firm as they related to the transaction.

This transaction culminated a year in which Lowis & Gellen represented business buyers and sellers in six major transactions. These transactions included the representation of metal plating finishing companies, a health care provider, commercial suppliers and a portion controlled meat company. Together, these companies achieved annual sales in excess of $300 million. For these transactions, Lowis & Gellen successfully sourced and obtained new credit facilities nationwide with an aggregate value of over $100 million.