Mergers & Acquisitions

   The firm has represented many companies in acquiring businesses as either asset transfers or stock transfers from insolvent companies. The acquisitions can occur before a court proceeding is filed, or in either a state court receivership or in a bankruptcy proceeding. How the transaction is structured and whether it is in or out of a court proceeding depends upon business and legal factors.  

   In some acquisitions, obtaining the assets in place and an extinguishing existing debt are important. In those cases, an acquisition of assets in a court proceeding allows the buyer to eliminate debt. Mr. Kerkman represented Terminal-Electric in acquiring the assets, work in process and receivables of Andrae Electric, the oldest electrical contracting firm in the country, in a chapter 11 proceeding. The result: Terminal-Andrae more than doubled its business and continues to thrive.  

   In other situations, buying the business before a court proceeding is important to protect trade relationships and the trade name in the industry. Mr. Kerkman has likewise represented buyers and sellers.