Lawyers at Hammonds LLP have advised clients on the recently completed investment in W H Holding, the parent company of West Ham United football club.
The club raised £4m in new equity through a placing of shares, primarily with the new investors. The proceeds were partly used to buy in some of the shareholding of CB Holding EHF, with the balance available to fund the further development of the club both on and off the pitch.
The new investors are John Harris CBE, Daniel Harris and Terence Brown, former Chairman of the club. Daniel Harris is joining the board and Terence Brown is becoming Honorary Life President of the club.
Hammonds' clients John and Daniel Harris are lifelong supporters of West Ham United and will be known to many supporters. They previously built up the publicly listed Alba Group, which was founded by John Harris, and currently run Harvard Medical Devices.
Commenting on the investment Daniel Harris said: "My father and I have considered investing in West Ham on a number of occasions. We chose to do so now because we have confidence in the new management team and believe they are capable of fulfilling West Ham's exciting potential. We look forward to the future success of the club."
The Hammonds team was headed by corporate partner David Hull, assisted by corporate associate, Lowri Jones. Tax advice was provided by partner, Patrick Ford.
David Hull said: "It is rewarding to help long-standing clients such as John and Daniel Harris realise their ambition to be involved with such a prestigious football club."
W H Holding was represented by DLA Piper, Freshfields represented CB Holding EHF and Herbert Smith acted on behalf of the third investor, Terence Brown.
Editors Notes: Hammonds LLP is a leading commercial law firm with offices throughout the UK in Birmingham, London, Leeds and Manchester as well as in Europe and in Asia. The firm employs over 1000 people, including 170 partners, working out of 10 offices in 6 countries.For further information contact:
Beth Reed, Communications Executive, Hammonds LLP, on 0113 284 7236 or email Beth.reed@hammonds.com