Charles Russell Speechlys advise on Levin Hotel and Capital Hotel and Apartments sale to US firm Warwick Hotels
Family businesses, by their very nature, offer up their own levels of complexity and the recent sale of The Capital Hotel and Apartments and The Levin Hotel to a US firm, Warwick Hotels, proved to be no exception.
Keir Gordon, Partner at Charles Russell Speechlys and who lead on this transaction, comments, “For any family who has nurtured and grown a successful business, the decision to sell is always going to be a tremendously difficult one. You are emotionally invested, not just financially committed to your own business, and your colleagues are your family. In many cases, succession planning is not as straightforward, particularly if you have children who have careers outside of the business.”
This was true in the case of founder and veteran hotelier of the exclusive Levin Hotel and the Capital Hotel and Apartments, Professor David Levin (MBE) who determined that the best outcome for both his business and family would be to sell to the right buyer. This difficult decision was made in a time of economic uncertainty, and with the prospect of Brexit looming. The deal also needed to be structured in such a way so that the risk liability sat with Mr Levin alone, a somewhat unusual and challenging request, but one that ensured his children – the heirs - would be protected. It was also vital to provide sound expertise on inheritance planning and consider a holistic approach when advising on achieving the best outcome for the family.
Urvashi Parekh, Finance Director of The Capital Group commented:
"Charles Russell Speechlys provided first class, commercially driven legal advice, steering the Capital through the sensitive and complex process of a family owned business sale with upmost professionalism and always able to deliver essential support both in terms of technical expertise and finding business driven solutions. Charles Russell Speechlys were a true trusted advisor to both myself as the Finance Director and also to Professor David Levin MBE as the founder of the business."
The conclusion of this comprehensive transaction provided clarity from a complex situation. As with every deal, it required a bespoke and meticulous approach to ensure that the Levin family’s expectations and outcomes were met across the board.
For more information please contact Keir Gordon on +44 (0)207 203 5181 or firstname.lastname@example.org
News & Insights
Bad AGMs (and how to avoid them) - January 2018
Essential tips to help avoid difficult AGMs - this year in a crisis management context.
Charles Russell Speechlys advises on prestigious Chancery Lane office sale
Charles Russell Speechlys has advised a private investor on its disposal of 5 Chancery Lane, London.
Charles Russell Speechlys advises Duco Technology Ltd on $28m equity fundraising with Insight Venture Partners and others
Duco provides self-service data engineering in the cloud.