The Company, Employment and Commercial Property teams at Richard Reed have advised VMS on securing the freehold of The Welly as well as the lease of The Polar Bear and the IPR of the ticketing business, Hull Box Office.
VMS had worked with the previous owners, Humyne Ltd for the last 3 years as venue consultants and event bookers for The Welly and The Polar Bear. In addition to developing the “Inner City Live” series of outdoor events in Hull, VMS have now concluded a series of deals in relation to acquiring a number of Humyne’s assets.
Steve Forster (VMS Managing Director) commented “I am really pleased that we have managed to get the deal over the line. What makes the acquisition really interesting from a VMS perspective is not just the addition of another 2 venues to our estate but also the inclusion of Hull Box Office (HBO). As this gives us a physical platform through which we can operate ‘VMS Tickets’. Furthermore, this allows us to seamlessly integrate additional venues ticketing into our operation.”
The core members of the Richard Reed team were director and corporate solicitor Phil Moir, employment solicitor Lisa Branker and commercial property solicitor, Paul Mernin.
Phil Moir commented:
“We’re delighted to have advised VMS on their acquisition. By offering first-rate multi-disciplinary legal advice we were able to advise the client throughout the transaction to achieve the best possible outcome for VMS.”
Lisa Branker commented:
“As a result of the successful transaction, we are now providing our HR/Employment law services to VMS to assist and support their expanding workforce and we look forward to working closely with VMS in their future growth.”