Lindsey R. Day

According to Lindsey, "I help clients solve problems relating to the ownership and operation of their businesses. I pay attention to details and am committed to responsiveness and timely delivery of work. I will turn the stones that need to be turned." According to one client, "Lindsey did a fantastic job of walking us through the process and identified our best options in terms we could understand."

Lindsey Day is a business lawyer who focuses her practice on advising, guiding, and solving problems for middle-market, closely held, and family-owned businesses. She is co-chair of Lathrop GPM's Closely Held Business Institute and routinely counsels both buyers and sellers of closely held and family-owned businesses in finding practical solutions to get them where they want to go. She supports them with general business law, corporate governance, contract negotiations, strategic transactions, corporate restructurings, ownership transitions, and mergers and acquisitions. She is also active with the firm's Women's Initiative Network. 

Lindsey enjoys working with well-established, legacy companies to help them navigate complex legal issues as their "legal quarterback." She regularly serves clients in a variety of industries, including:

• Grocery stores
• Manufacturing
• Private equity and venture capital
• Professional services
• Retail
• Technology

Complex Legal Document Drafting, Review and Counsel

The drafting, review and counsel for complex legal documents are of critical importance to businesses at every stage of their lifecycle. Legal documents and contracts serve as the foundation for the future of the business, outlining explicit terms. Lindsey handles legal document drafting, review and counsel with precision, safeguarding that each clause is legally sound. She also helps to identify potential loopholes or weak areas and rectifies them before finalization. Moreover, Lindsey provides clients with invaluable counsel, advising on the best strategies and decisions to meet their goals. She regularly counsels clients about:

• Buy-sell agreements
• Change of control agreements
• Consultants, contractors and vendor procurement
• Corporate Transparency Act (CTA) compliance
• Employee ownership
• Operating agreements
• Redemption agreements
• Services and supply agreements

Succession Planning

Business owners often face a crossroads when it comes to succession planning, whether it is a generational leadership transition, sale to a strategic buyer or private equity, or other successors. With years of experience, Lindsey understands the nuances of this process and is equipped with the necessary tools and knowledge to help clients navigate succession successfully. She recognizes the emotional nature of passing on a business and is capable of managing these situations with tact and respect. In collaboration with other service providers and Lathrop GPM's Trusts, Estates and Legacy Planning practice, she also provides clients with a deep understanding of the intricate laws and regulations surrounding succession planning, ensuring a company's legacy is protected and transitions smoothly.

WHEN ASKED …

Why did you become a lawyer?

At an early age, I decided that I was going to become an attorney. At the time, the only basis for my decision was that I wanted to wear a suit, carry a briefcase, and be able to argue a position. My thinking became more practical in college where I enjoyed my business law classes and concluded that a career as a transactional attorney was the right path for me. In terms of the work I do, I like helping clients solve problems and achieve their goals. At a more granular level, I enjoy drafting agreements. That may strike some people as odd, but some agreements are like putting a puzzle together – a challenge that I always enjoy.

REPRESENTATIVE EXPERIENCE

• Represented Granite Partners, a private investment and holding company, in platform investments in a manufacturer of flexible and rigid-flex printed circuit boards and similar products with operations throughout Minnesota and in a manufacturer of fiber-reinforced polymer products with operations in the U.S. and Mexico.
• Represented an online retailer of deck supplies in its sale to a Missouri-based private equity firm.
• Represented a North American-based locomotive software and engineering company in the sale of its industrial IoT division to a global technology company headquartered in Europe.
• Represented a family-owned provider of control room console solutions in its sale to a Minnesota-based private investment and advisory firm.
• Represented a family-owned water systems treatment company with multi-state operations in strategic add-on acquisitions and a generational leadership transition.
• Represents a family-owned precision machining and metal fabrication company in general business matters and succession planning.
• Represents businesses and their owners in the negotiation of buy-sell and partnership agreements, commercial contracts, and private placements of debt and equity securities.
• Represented a higher education compliance content developer in the sale of its assets to a global private equity firm.
• Represented a mechanical contracting company in its acquisition of the assets of a competitor.
• Assisted with the representation of a privately held manufacturer of industrial and commercial heaters in its sale to a publicly held strategic acquirer.

• Co-presenter, "Using Earn-Outs to Get the Deal Done," Hot Topics in Mergers and Acquisitions 2024 - Minnesota CLE, January 23, 2024
• Podcast Guest, "#‌772 Is it Difficult to Sell a Small Business in 2024?" The Small Business Radio Show hosted by Barry Moltz, December 22, 2023

• Co-author, "Six-Step Quick Guide to the Beneficial Ownership Information Reporting Rules of the Corporate Transparency Act," February 2024
• Article Author, "Earnouts: A seller’s primer," Upsize Magazine, November/December 2023

• Association for Corporate Growth

• Hennepin County Bar Association

• Minnesota State Bar Association

• Association for Corporate Growth, Minnesota Chapter, Board of Directors

• “North Star Lawyers,” Minnesota State Bar Association, 2016–2018