Working with Kobus Services to distribute a fairer share

Working with Kobus Services to distribute a fairer share
Kobus Services

Using the benefits of share allotment is becoming an increasingly attractive option for start-ups looking to enter the next stage of their development as a business. But for any company looking to do this, putting the right legal services support in place is instrumental in making sure the matter runs smoothly. 

Harper James has just assisted Kobus Services, an innovative engineering scale-up, through this process. We talk to Kobus about their legal experience, which was led by our corporate solicitor Abby Watson.

Kobus Services turned to our team of experts for advice in structuring a new incentive package for its directors and management team. The company, which develops trenchless technology innovations for water and gas supply pipe replacements, wanted to reissue shares within the business in order to generate fresh funds and to enable management to invest in the company. 

The cash boost will help aid the business’s expansion into the UK gas market, and further European territories, as well as continuing the USA expansion from their base in Michigan, where Kobus Services have already established a foothold in the lucrative lead replacement market. Ultimately the board of Kobus Services hope the new share arrangement they have in place will also pave the way towards a sale of the business by 2023. 

Nigel Bacon, the chairman of Kobus Services, explained: 'Abby and the corporate team at Harper James Solicitors provided excellent support guiding the business through what was quite a complex process at each stage. One of the things that impresses me most about Harper James is that although they are a remotely-operating law firm, this never comes across in the level of service. It always feels like you have great legal support at your side - which can be so important for any company like ours.'

Our solicitor Abby added: 'Having worked with Kobus Services many times in the past, I was pleased to be able to help support them through this important phase of their life cycle. The board wanted to put in place what will probably represent a final incentive package for the directors and key management in a run-up to the sale of the company, which is planned for early 2023. For any business looking towards a sale, it can be useful to consider how shares are allotted within the company and whether this could be reviewed ahead of any potential sale. At Harper James Solicitors, we have the expertise to help guide companies through the process and advise on the best options available.'

Is your company reviewing share allotment, ahead of scaling up or exiting? Benefit from our knowledge of company share capital and employee share schemes by telling us more about your needs.

Our corporate expert

Abby Watson

Abby Watson

Senior Employee Incentives Solicitor
A graduate of the University of Durham, Abby Watson trained with global law firm DLA Piper, before working for six years as a qualified solicitor in the Corporate department of the firm’s Leeds office. She then joined a leading regional law firm before joining Harper James Solicitors in April 2015.

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