DMH Stallard is delighted to have advised UK office ergonomics market leader, Posturite Limited, on the sale of a stake of its shareholding to U.S. global office supplies manufacturer, Fellowes International, in its bid to tap into the international market.
Leading U.S manufacturer Fellowes International, acquired a minority stake in Posturite Limited, the largest independent provider of ergonomics solutions in the UK, which has its head offices in East Sussex. Fellowes International operates from 21 locations in the U.S and around the world.
Law firm DMH Stallard, whose team was led by corporate law partner Abigail Owen, acted for Posturite on the sale and shareholder and board arrangements.
Founded in 1991 by CEO Ian Fletcher-Price, Posturite had it’s beginnings as a family-owned business operating from Sussex and now has over 185 employees with a customer base include small companies as well as larger corporates listed on the stock exchange.
Ian Fletcher-Price, CEO of Posturite, remarked:
“Having developed the first Posturite product in my mother’s shed in 1991, this latest stage of our journey is very exciting. Fellowes will be a fantastic partner for the business and with its tremendous heritage will help Posturite scale on the global stage. Abigail and the team at DMH Stallard were an indispensable part of the deal and ensured everything ran smoothly. They were able to swiftly get to the crux of the issues and understand what was important for us and for Fellowes, in what was a complex deal. The transaction involved dealing with a large number of shareholders, as well as the documenting of the bringing together of two large organisations with a U.S and international element, all within a very short timescale. I thank Abigail and her team for pulling out all of the stops to make sure we got it over the line on the required date.”
Abigail Owen, Corporate Partner at DMH Stallard, commented:
“Posturite is a stunning success story and a long term client at DMH Stallard. It was a pleasure working with Ian and his team as they embark on their next stage of growth. We look forward to continuing to work with them and being by their side as they expand and take the next steps in to their global market growth.”
EMC Limited acted as corporate finance advisers to Posturite Limited. DLA Piper UK LLP acted as the solicitors for the Fellowes International group.