GA Solicitors Advises Devon Chamber on Historic Merger
As of today (Tuesday 1st October), Devon Chamber officially incorporates Exeter Chamber of Commerce. This follows a meeting in September where members of both the Devon & Plymouth Chamber of Commerce and Exeter Chamber overwhelmingly voted to merge. The new merged entity goes live today as the ‘Devon, Exeter and Plymouth Chamber of Commerce’, trading as ‘Devon Chamber’.
The merger was advised upon by James Peterson, partner and head of the corporate and commercial team at GA Solicitors. The transaction, which is one of the most historic moments for Devon Chamber in its 200-year history, included some unique challenges. The parties needed to make sure the most effective legal structure was used for the merger, whilst still protecting the heritage of both chambers of commerce. They also needed to create a structure that would result in all members not just maintaining but enhancing the value they receive from their memberships.
Together with the boards of directors and other professional advisors, James guided the process to make sure the optimum legal structure was used for the benefit of all members of Devon Chamber. This allowed the majority of assets and employees to remain within their current legal entity whilst enshrining core objectives and principles with the new articles of association. The outcome means that the merged business protects the heritage of both chambers; and makes sure businesses from all areas of the region have a strong voice and local representation; whilst also creating a large powerful combined regional chamber of commerce that can lobby the government on behalf of the businesses in the region.
Talking of his role in the merger, James commented: “I was both excited and honoured to advise Devon Chamber on this transaction. It is such an important organisation, offering support to businesses all over the county. This merger was an important next step, and in somewhat uncertain times, we can see that the businesses in the region are stronger together.”
Stuart Elford, CEO of Devon Chamber, added: “With Exeter being one of the county’s largest cities, this merger is a huge step forward for Devon Chamber and the region’s many businesses. With increased benefits for all members, the new Devon Chamber will be stronger than ever before, and a powerful voice for businesses across the county.
“I would like to thank James Peterson for his unwavering guidance and support throughout this transaction. His advice has been invaluable in ensuring a successful merger which works for all parties. We are now excited to move forward under the Devon Chamber brand.”
This new organisation will give all members expanded access to resources and will mean more networks, services, and opportunities for businesses across the region. With the current political, national and international challenges that local businesses face, this merger will mean all can be stronger together and meet these challenges head-on and with a louder voice when lobbying the government.
If you would like to discuss any needs for your company or business, please feel free to contact our experienced corporate and commercial team. The team can be contacted on 01752 203500. You can also email James directly via james.peterson@GAsolicitors.com.
GA Solicitors in Plymouth is recognised nationally for its quality of corporate and commercial work. The team is ranked in both The Legal 500 and Chambers UK.
You can read some recent articles written by the team here.
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