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Richard J. Lambert was named by Best Lawyers® as a 2021 Corporate Law “Lawyer of the Year.”

Best Lawyers® is the oldest and most respected peer-review publication in the legal profession. Only one lawyer in each practice area in a given community is honored as “Lawyer of the Year.”

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New Jersey research lab to be acquired

There are a number of complex business transactions that businesses can choose to be a part of. In particular, when a business is looking to grow, it has a couple of options. A business can start new operations from scratch. To do this, businesses will need to build, purchase and develop new operations to accompany their existing set up. Or, businesses that want to grow can enter into an acquisition agreement with an already existing business. By acquiring a new business, New Jersey businesses can increase their size while taking advantage of an already functioning business set up.

A South Carolina company has recently announced that it intends to acquire a New Jersey research lab — Ergenics. The research lab pioneers new energy technology called Reversible Hydrogen Hydride science where hydrogen is used to create safe renewable energy. The technology is used in batteries and HVAC units.

The South Carolina company — Hy-Stor Technologies — will use this technology to bring new products to consumers including recyclable batteries and air conditioning and refrigeration systems that have zero carbon footprint.

As a result of the acquisition, the New Jersey lab’s operations will move to South Carolina. No other details about the transaction were released.

An acquisition lets companies grow, without the hassles of starting from nothing. The other business likely has customers, equipment and employees which can all immediately work to the advantage of the company looking to expand. However, with all these factors in play, acquisitions can also be very complicated and it takes expert attention to detail in order to complete the process.

Source: The Charleston Chronicle, “Charleston Company to Acquire Hydrogen-Based Clean Energy Lab,” March 4, 2013

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New York, NY 10019

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