Ashfords’ corporate team successfully advised on a complex restructuring process for returning client, KandyToys Limited.
Located in Clyst St Mary, KandyToys is the UK’s leading importer of toys, gifts, beach goods and pools. Ashfords has previously worked with the company, when it was acquired by its management team in 2016.
This recent restructuring process involved various capital reductions, other shareholding adjustments and the exit of certain shareholders. We worked closely with the client’s accountants and tax advisors in order to implement a multi-step structure, which achieved their objectives in as efficient a manner as possible.
We were able to leverage our good relationship with the company’s bankers to ensure that existing facilities were not impacted by the changes, and that all required consents were obtained smoothly.
Our team also helped to manage the technical and timing requirements, balancing these with the commercial objectives of the parties. We also worked collaboratively with the advisors of the exiting shareholder, which helped to achieve a successful outcome for all involved.
Mark Hall, Finance Director at KandyToys, praised the team at Ashfords:
“We are extremely pleased with the work that was done by Ashfords. Scott Preece, the senior associate who led the case, was exceptional. He was highly knowledgeable and experienced, and he kept us fully updated on the progress of the deal at all times. He was also very responsive to our queries, and he always made himself available to answer our questions.
In particular, we would like to highlight Scott's hard work and dedication. He was instrumental in ensuring that the deal was completed on time and did his best to keep within budget. He also went above and beyond to meet our needs, and he was always willing to go the extra mile.
We are also pleased to report that the other party's solicitor complimented Scott on his professionalism and expertise. They were impressed with how well he managed the negotiation process, and they were grateful for his willingness to work collaboratively to achieve a successful outcome.
We would like to thank Tom Storey and Elisha Feeney for their help in the process as well. They were both very helpful and efficient, and they made sure that we were always kept informed of the next steps.
Overall, we were very impressed with the services provided by Ashfords. They were professional, efficient, and knowledgeable, and they played a vital role in ensuring that the share buyback and company restructure was successful.”
For more information on company restructures and other matters relating to business strategies, please contact the corporate team.