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Acquisition of Specialty Finance Company by Texas-based Family Office

Representation of a privately-held specialty finance company and its principal in connection with (i) the sale of all of the company’s assets and the assumption of certain of its liabilities by the wholly-owned subsidiary of a Texas-based family office; and (ii) the negotiation of an employment agreement between the principal and buyer. A portion of the closing purchase price was paid at closing with the balance payable in quarterly earn-out payments, subject to an earn-out payment cap.

As a condition to, and simultaneous with, the consummation of the asset sale, buyer was required to (1) enter into a new loan facility with the company’s warehouse lender; and (2) purchase the loan portfolio serviced by the company and owned by an unaffiliated hedge fund.
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