A team of advisers, led by corporate partner Jonathan Priestley, worked with the shareholders of Momart International Limited on the sale of the entire issued share capital for a total consideration of £10.27 million, comprising cash and shares.

The transaction was highly complex and involved the re-registration of the Company from Plc status and negotiations surrounding the employee benefit trust.  Following the acquisition, Momart’s key management and staff will continue to work within the Group to drive its continued expansion, particularly in the rapidly growing overseas market.

Momart was founded in 1971 to provide specialist transport and logistics services to the fine art market in the UK and overseas.  Its expertise with fragile, rare, valued and monumental objects has made it one of the largest specialists in its field world-wide. 

It is established as a market leader with a client base including the Victoria and Albert Museum, the Royal collection, the Tate Galleries, New York Met, the National Gallery and the Henry Moore Foundation.  

Jonathan Priestley, corporate partner at Lee & Priestley LLP said:  “The firm has acted for Momart International on several share reorganisations and investments, and we were proud to represent them once again.

“Momart’s strong niche business will provide a good fit with those of FIH.  It is a high-quality business with a strong management team and will prove to be an excellent acquisition.”

Eugene Boyle, managing director of Momart International Limited added:  “The all round expertise of Lee & Priestley was a crucial factor in this deal, which involved corporate finance, property and employment issues.”

• Previous Page