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Acquisition Agreement
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Title:
Acquisition Agreement
Entities:
AHL Services Inc
Date:
2001
Size:
Preview shows 15KB of 420KB total
Price:
$71
ID:
#1649297
► M&A ► Acquisition Agreements
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                              ACQUISITION AGREEMENT



                                   DATED AS OF



                                DECEMBER 14, 2000



                                      AMONG



                                 SECURICOR PLC,



                            SECURICOR GEORGIA, INC.,



                                       AND



                               AHL SERVICES, INC.,



                          ARGENBRIGHT HOLDINGS LIMITED,



                                ARGENBRIGHT, INC.



                           ARGENBRIGHT SECURITY, INC.



                              THE ADI GROUP LIMITED



                                       AND



                               AHL EUROPE LIMITED



================================================================================





<PAGE>   2



                                TABLE OF CONTENTS



<TABLE>

<S>                                                                                                               <C>

ARTICLE 1 Definitions .............................................................................................2

ARTICLE 2 Purchase And Sale of US Business and UK Business .......................................................17

   Section 2.01 Purchase and Sale ................................................................................17

ARTICLE 3 Closing of Purchase and Sale of US Business and UK Business ............................................18

   Section 3.01 Closing ..........................................................................................18

   Section 3.02 Delivery of Purchase Price .......................................................................18

   Section 3.03 US Closing Deliveries ............................................................................18

   Section 3.04 UK Closing Deliveries ............................................................................19

ARTICLE 4 Post Closing Balance Sheet; Purchase Price Adjustment ..................................................21

   Section 4.01 US Balance Sheet and European Completion Accounts ................................................21

   Section 4.02 Adjustment of Purchase Price .....................................................................23

ARTICLE 5 Representations And Warranties of The Argenbright Entities .............................................23

   Section 5.01 Corporate Existence and Power ....................................................................24

   Section 5.02 Corporate Authorization ..........................................................................24

   Section 5.03 Governmental Authorization .......................................................................24

   Section 5.04 Noncontravention .................................................................................24

   Section 5.05 Capitalization ...................................................................................25

   Section 5.06 Ownership of US Shares ...........................................................................25

   Section 5.07 Argenbright Security Subsidiaries ................................................................25

   Section 5.08 Financial Statements .............................................................................26

   Section 5.09 Books and Records ................................................................................26

   Section 5.10 Absence of Certain Changes .......................................................................26

   Section 5.11 No Undisclosed Material Liabilities ..............................................................28

   Section 5.12 Intercompany Accounts ............................................................................28

   Section 5.13 Material Contracts ...............................................................................28

   Section 5.14 Suppliers ........................................................................................30

   Section 5.15 Litigation .......................................................................................30

   Section 5.16 Compliance with Laws and Court Orders ............................................................31

   Section 5.17 Ownership of US Assets ...........................................................................31

   Section 5.18 Real Property ....................................................................................32

   Section 5.19 Intellectual Property ............................................................................33

   Section 5.20 Insurance ........................................................................................35

   Section 5.21 Licenses and Permits .............................................................................35

   Section 5.22 Receivables ......................................................................................36

   Section 5.23 Accuracy of Projections ..........................................................................36

   Section 5.24 Finders' Fees ....................................................................................36

   Section 5.25 Employees ........................................................................................36

   Section 5.26 Labor Relations ..................................................................................37

   Section 5.27 Employee Benefit Plans ...........................................................................38

   Section 5.28 Environmental Matters ............................................................................41

   Section 5.29 Worker's Compensation Claims .....................................................................42

</TABLE>





                                       i

<PAGE>   3



<TABLE>

<S>                                                                                                               <C>

   Section 5.30 Record Keeping Practices .........................................................................42

   Section 5.31 Knowledge of Sellers .............................................................................42

   Section 5.32 Certain Business Practices .......................................................................42

ARTICLE 6 Warranties of AHL Europe Relating To UK Assets .........................................................42

ARTICLE 7 Representations and Warranties of Securicor Georgia and Purchaser ......................................43

   Section 7.01 Corporate Existence and Power ....................................................................43

   Section 7.02 Corporate Authorization ..........................................................................43

   Section 7.03 Governmental Authorization .......................................................................43

   Section 7.04 Noncontravention .................................................................................43

   Section 7.05 Litigation .......................................................................................43

   Section 7.06 Finders' Fees ....................................................................................44

   Section 7.07 Financing ........................................................................................44

ARTICLE 8 Covenants of the Sellers and AHL .......................................................................44

   Section 8.01 Conduct of US Business ...........................................................................44

   Section 8.02 Conduct of UK Business ...........................................................................47

   Section 8.03 Access to Information; Confidentiality ...........................................................49

   Section 8.04 Notices of Certain Events ........................................................................50

   Section 8.05 Resignations .....................................................................................51

   Section 8.06 Noncompetition ...................................................................................51

   Section 8.07 Efforts to Consummate ............................................................................52

   Section 8.08 Releases .........................................................................................52

   Section 8.09 Assignment of Contracts ..........................................................................52

   Section 8.10 Leased Real Property .............................................................................53

   Section 8.11 Licenses and Performance Bonds ...................................................................53

   Section 8.12 Use of US Trade Names ............................................................................53

   Section 8.13 Use of European Trade Names ......................................................................53

   Section 8.14 Use of Sellers' Trade Names ......................................................................54

   Section 8.15 Supplements to Disclosure ........................................................................54

   Section 8.16 Restriction on Distributions .....................................................................54

   Section 8.17 Philadelphia Settlement Agreement ................................................................55

ARTICLE 9 Covenants of Purchaser .................................................................................55

   Section 9.01 Confidentiality Agreement ........................................................................55

   Section 9.02 Access ...........................................................................................55

ARTICLE 10 Covenants of Purchaser and Sellers ....................................................................56

   Section 10.01 Best Efforts; Further Assurances ................................................................56

   Section 10.02 Certain Filings .................................................................................56

   Section 10.03 Public Announcements ............................................................................56

   Section 10.04 [Intentionally omitted] .........................................................................56

   Section 10.05 Intercompany Accounts ...........................................................................56

   Section 10.06 Philadelphia Settlement Agreement ...............................................................56

   Section 10.07 HSR Filing ......................................................................................57

   Section 10.08 Release of Guarantees and Indemnities ...........................................................57

ARTICLE 11 Tax Matters Relating to the US Business ...............................................................58

ARTICLE 12 Tax Matters Relating to the UK Business ...............................................................58

ARTICLE 13 Employee Benefits Relating To The US Business .........................................................58

</TABLE>





                                       ii

<PAGE>   4



<TABLE>

<S>                                                                                                               <C>

   Section 13.01 AHL Services Group 401(k) Plan ..................................................................58

   Section 13.02 AHL Services, Inc. Nonqualified Deferred Compensation Plan ......................................58

   Section 13.03 AHL Services, Inc. Flexible Benefits Plan .......................................................59

   Section 13.04 Argenbright Holdings Limited Health and Welfare Benefits ........................................59

   Section 13.05 Contribution and Premium Payments ...............................................................60

ARTICLE 15 Conditions To Closing .................................................................................60

   Section 15.01 Conditions to Obligations of Purchaser and Sellers ..............................................60

   Section 15.02 Satisfaction of Conditions in Section 15.01(c) and Section 15.02(d) .............................61

   Section 15.03 Conditions to Obligation of Purchaser ...........................................................61

   Section 15.04 Conditions to Obligation of Sellers .............................................................63

ARTICLE 16 Survival; Indemnification .............................................................................64

   Section 16.01 Survival ........................................................................................64

   Section 16.02 Indemnification .................................................................................64

   Section 16.03 Procedures ......................................................................................67

   Section 16.04 Waiver of Rights ................................................................................67

   Section 16.05 Specific European Indemnities ...................................................................68

ARTICLE 17 Termination ...........................................................................................69

   Section 17.01 Grounds for Termination .........................................................................69

   Section 17.02 Effect of Termination ...........................................................................69

ARTICLE 18 Miscellaneous .........................................................................................70

   Section 18.01 Notices .........................................................................................70

   Section 18.02 Amendments and Waivers ..........................................................................71

   Section 18.03 Expenses ........................................................................................71
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