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- Archer Norris has been named one of the Best Places to Work in the Bay Area by the San Francisco Business Times.
- More than 90 attorneys in four California offices.
- Leading California law firm with a focus on complex litigation and business transactions.
Solid Waste Deal: Sale of a Family-owned Business
Issue: Rick Norris and Kim Scala recently accomplished the sale of a family-owned business, concluding years of negotiations, complex valuations, and strategic planning.
Strategy: The inter-family transaction involved the sale of a half interest in multiple solid waste companies and the establishment of a family partnership for management of its extensive real estate portfolio. The financing side of the transaction involved a private-activity bond and two credit facilities. The sale of the business and reorganization of the family’s real estate holdings served both the strategic business purposes of the purchaser and the estate planning goals of the senior members of the family.
The most critical aspect of the transaction goes to the very nature of owning and operating a family-owned business. At its core, the business was built on the rich and varied strengths of family members. Succession planning needed to accommodate the personalities and abilities of the next generation as well as evaluating existing assets. It is a testament to all parties involved that they ultimately succeeded in incorporating interfamilial and business assets into a successful business deal that actually brought the family closer together. Rick and Kim are to be congratulated for their skill in managing the complex issues that drive the family-owned businesses which are the backbone of our economy.