Tonkon Torp Team Delivers Fast, Efficient Counsel in Rejuvenation Sale
Portland-based Rejuvenation's sale to one of the leading home furnishings companies in the nation is a classic example of a visionary entrepreneur successfully transitioning his company to benefit his family, employees and the community in which he has done business for decades.
Owner Jim Kelly started Rejuvenation in 1977 as an architectural salvage shop in a derelict North Portland saloon. Under his guidance, the company grew to become America's largest manufacturer and leading direct marketer of authentic, high quality reproduction lighting and house parts. Rejuvenation products, made-to-order in the company's Portland manufacturing facility, are sold through Rejuvenation's catalogue, website and retail stores in Portland, Seattle and Los Angeles.
When Kelly was ready to sell his company, he turned to Tonkon Torp for help in achieving his business and personal objectives. Rejuvenation was represented by a lean interdisciplinary team of Tonkon Torp business lawyers including corporate attorneys Sherrill Corbett, David Forman, Jeff Woodcox and Vanessa Lee Gebbie; tax specialist Gwen Griffith; executive compensation attorney Darcy Norville; and environmental lawyer Kim Stafford.
Negotiating with several national law firms handling specific aspects of the deal on behalf of the purchaser, the Tonkon Torp team efficiently concluded the transaction in a matter of weeks after the Letter of Intent was signed. To meet the time demands of the transaction, Tonkon Torp hosted an electronic data room for all due diligence and other documents, at no additional charge to the client.
Owner Jim Kelly said the outcome was what he had hoped for. "Rejuvenation is so pleased to now be part of the most respected home furnishings company in America. This will provide the resources and ingredients needed to build Rejuvenation into a full-fledged national brand. Our customers and employees will have much to gain as we expand our presence in the marketplace and extend the range of products we can offer."
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