Acquisition of an Engineering Firm and Subsequent Professional Licensing

We represented a national MEP engineering firm in the acquisition of another engineering practice. The acquisition provided our client with broader expertise in strategic vertical industries including education and healthcare.

We prepared and negotiated the asset purchase agreement as well employment agreements for the principals of the acquired firm. We reviewed the active project contracts on behalf of both parties to confirm that all consent and licensing issues were attended to pre-closing. We also assist our client with securing and tracking business-level licensing in all states in which it conducts business on an ongoing basis and have assisted the acquired firm with licensing support requires as a result of the acquisition.

Professional licensing was a critical element of this transaction as ownership, business entity-type requirements and reporting rules vary from state-to-state and failure to negotiate these rules properly in the context of a business sale can result in a firm being de-authorized to practice or sanctions due to failure to report certain business changes on a timely basis.

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