Greenwich Leisure Limited (GLL) is a co-operatively owned business aimed at supporting local leisure companies. Trusts, commercial groups, or local councils have traditionally owned these, however GLL wanted to give them another option.
They can often be fairly financially unstable depending on whereabouts in the country they are based, and often need external help. GLL understood this and wanted to tackle the problem head-on. They believed whole-heartedly that they could help local trusts and it was with this brief that they approached us.
What was our role?
Our job was to help GLL understand their assets and what they could do in order to strengthen other leisure groups as much as possible, so we outlined their options. Deliberation lead to an understanding; they could form mergers to reinforce other groups, strengthening their own position whilst they were at it.
GLL found the idea of a merger appealing, and they knew who they would like to form a partnership with. They wanted to help North Country Leisure (NCL), a trust with leisure facilities set up in Newcastle, South Lakeland, Eden, and Copeland.
How did we add value?
Lead lawyer David Alcock provided an active service from reviewing the eligibility of the NCL as a merger option to drafting contracts, and ensuring favourable terms for all those involved. These set out how the relationship would work as a partnership, keeping the NCL as a separate entity but also helping them out as much as possible from a financial perspective. Now they are partners, both sides happy with the solution.
One of the particular ways we provided value to this case was by understanding the particulars well, due to prior experience. This allowed for GLL and NCL to have a smooth transition from separate businesses to one, stronger trust. They did not have to worry about anything, and this put them in a strong position to continue doing the good work they are doing with the security in knowing we were making the legal transition as smooth as possible.
What made this case so unique is GLL’s proposition. They wanted to prove that there is another, more efficient way of running public services. To prove that it was possible to reinvest in leisure businesses, safeguard local provisions, and stabilise those businesses to ensure that they have a future. GLL is on a quest to safeguard the public services countrywide.
Ultimately, what makes us proud of this case is twofold. Firstly, we managed to successfully help GLL and NCL merge to create a stronger organisation. Secondly, this allows them to continue on the work they are doing, transforming the leisure industry to make it more accessible for all. It is a noble cause, and one that coincides with the ethos of Anthony Collins Solicitors exactly.