Posted Thursday 5th November 2020
Joelson has successfully advised the shareholders of New England Seafood International Limited (NESI) in connection with its sale to Sealaska, an Alaska Native Corporation that invests in and operates businesses that are committed to improving the health of the world’s oceans.
NESI, a London-based supplier of premium sustainable fish and seafood, has a long-standing commitment to sustainability and balancing the challenges associated with feeding a growing population and maintaining a healthy planet. The company’s acquisition by Sealaska is a major milestone for both parties, as it will provide increased access to resources, broader product and category capabilities, and deeper market access.
Joelson’s Corporate team was led by Partner Phil Hails-Smith and supported by Associate, Magdalena Janki and solicitors Harriet McDonald and trainee solicitor Emma O’Rourke. The firm’s advice was instrumental in co-ordinating the transaction, which will secure management continuity together with NESI’s founder Fred Stroyan retaining a stake.
Phil Hails-Smith, Corporate Partner at Joelson, said:
“We are proud to have assisted NESI on this transaction, which is a key strategic moment for its shareholders. We have worked with NESI over the last 5 years on a number of legal matters and are delighted to have supported the shareholders and the management team of NESI on this deal. Joelson is always committed to achieving the optimum outcome for its clients and we have particularly enjoyed ensuring that the strongly-held beliefs of both sets of stakeholders involved in this acquisition were able to be aligned. We look forward to continuing to support NESI to help the business achieve both its commercial and environmental objectives.”
Dan Aherne, Group CEO of NESI, said:
“Joelson has been our legal partner and advisor for the past five years and has worked with us on a number of key business and structural events. With every interaction, the firm has provided calm, balanced advice and good counsel. Phil and his team have an excellent commercial understanding of our sector and the issues of note, meaning that any time (and money) spent is productive and adds enormous value.”
Fred Stroyan, Founder of NESI, said:
“Joelson helped make the acquisition process as orderly and stress free as it could be. As an owner and relative stranger to such processes, I was hugely re-assured by the measured and consistent advice I received. Most importantly, the working relationship between my team and the Joelson team is excellent, borne of the longstanding association since 2015. It was so helpful to have a firm that really understood our business and its inner workings acting for us.”
This article is for reference purposes only. It does not constitute legal advice and should not be relied upon as such. Specific legal advice about your specific circumstances should always be sought separately before taking or deciding not to take any action.
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