DSK Legal Advised JCB Salons And Its Promoters In Acquisition Of Spalon
DSK Legal Advised JCB Salons And Its Promoters In Acquisition Of Spalon
DSK Legal advised and assisted JCB Salons Private Limited (JCB Salons) and its promoters Mr. Asit Koticha, Ms. Sneh Koticha, and Mr. Preet Koticha in relation to the leveraged acquisition of 100% shareholding of Spalon India Private Limited (Spalon) from its promoters (Transaction).
The Transaction also included partial funding through leverage from Blacksoil Capital (Blacksoil). The funds raised from Blacksoil were partly used for the acquisition of shares of Spalon and partly to fund the working capital requirements of JCB Salons.
JCB Salons is engaged in the luxury salon and spa business, bringing the finest international expertise and a premium French beauty experience to India. It is one of the largest brands in India, owning and operating more than 20 unisex salons and providing a one-stop solution for hair care and beauty.
Spalon is a mid-market chain of salons operating over 40 unisex salons in Southern India under the brand names Bounce, Spalon, and Kanyaa. The objective of the acquisition was to expand the footprint of JCB Salons across Southern India.
DSK Legal was involved in several key aspects of the transaction, including (i) conducting legal due diligence of Spalon (LDD); (ii) structuring the Transaction; (iii) drafting, reviewing, negotiating, and finalizing the share purchase agreements, transition services agreement, and employment agreement with Spalon and its promoters; (iv) reviewing, negotiating, and finalizing lending (including security documents) documents with Blacksoil; and (v) closing the Transaction (including the transaction with Blacksoil).
The DSK Legal team comprised Mr. Jayesh Kothari (Partner), Ms. Hemanshi Gala (Senior Associate), Ms. Aishwarya Kapoor (Senior Associate), and Ms. Sharmishtha Bharde (Senior Associate).
J. Sagar Associates acted as the legal counsel for Spalon and its promoters, while Bombay Law Chambers acted as the legal counsel for Blacksoil Capital.
