National law firm Shoosmiths has advised on the sale of Shetland based seafood producer, SI Seafarms Limited.
Rope grown mussel producer and supplier SI Seafarms has been bought by Blueshell Mussels Limited. The take over saw Blueshell Mussels Limited make an offer to all 78 shareholders of SI Seafarms Limited to purchase the entire share capital of company.
Based in Shetland, Blueshell Mussels is the UK's leading rope-grown mussel producer and operates the largest rope-grown mussel farm in the UK.
Shoosmiths corporate team was led by partner Stuart Murray and was assisted by associate Jen Paton and solicitor Alexander Lamley. The team advised on the legal aspects of the transaction including the process to be followed when issuing a recommended cash offer, which was ultimately issued to the shareholders.
David Fell, chairman at SI Seafarms, commented: 'This take over signifies an important step in the future growth of SI Seafarms and I am very pleased with the sale of SI Seafarms to Blueshell Mussels. The sale of the business to Blueshell is in the best interests of SI Seafarms and its shareholders. Under Blueshell's control SI Seafarms will continue to thrive, support jobs in Shetland and supply an increased quantity of quality mussels to its customers. The team at Shoosmiths has provided excellent advice on all aspects and queries regarding this process and can be credited with providing effective legal advice with an efficient service.'
Stuart Murray added: 'We are extremely pleased to have advised SI Seafarms on this important decision and wish them the best of luck for the future.'
Shoosmiths' corporate team advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
Nationally, the corporate team is ranked in joint first place by deal volume in Experian's UK Deal Review and Advisor League Table. The team was recognised for its mergers and acquisitions expertise at the 2015 M&A Awards, winning the Law Firm of the Year category.