Position: Partner at Bulkley Richardson & Gelinas
Secretary - Western Mass. Chapter NTMA
Scott Foster is the co-chair of the Business and Finance department at the law firm of Bulkley Richardson whose practice focuses on the growth aspects of private ventures. He has represented startups, angel investors, and venture capital groups as well as publically held and private corporations in industries ranging from precision manufacturing to high-growth technology to commercial food production to multi-family residential housing. Many of the companies coming to Scott for help are ventures in transitions, i.e. seeking early stage funding, looking to lease equipment or real estate, and obtaining commercial financing for expansion, or transitioning ownership to an investor group or even the next generation of a family business. Scott frequently negotiates contracts involving finance, partnerships, joint ventures, LLC operating agreements, suppliers, real estate and employment.
Scott is a co-founder and current Chairman of Valley Venture Mentors, a startup accelerator that provides robust mentoring to entrepreneurs from around New England.
Scott is also a board member of the Western Massachusetts Chapter of the National Tooling and Machining Association, the Economic Development Council of Western Massachusetts and Tech Foundry, Inc., a non-profit implementing a novel approach to skills based training. He is also a participant in several economic development initiatives in the Greater Springfield area, including serving on Springfield’s Federal Reserve Working Cities Challenge Grant team and the steering committee for Develop Springfield’s Future City 2025.
He is also the recipient of the Massachusetts Bar Foundation’s 2009 President’s Award, was recognized in the 2011 “40 Under Forty” list of outstanding young western Massachusetts business and community leaders published by Business West, and accepted the 2015 “Difference Maker” award on behalf of Valley Venture Mentors.
Advisor to entrepreneurs regarding their start-up ventures including initial formation, angel financing, and Series A/B capital raises across many industries.
Counseled multiple manufacturing companies and their principals regarding all aspects of business, including purchase and sale of a division, purchase and sale of real estate used in business, employment issues, and negotiation of several contracts with suppliers, customers and key employees.
Operated as lead counsel on numerous stock and asset transactions for clients in a number of different industries with the size of the transaction ranging from below $500k to over $35MM. In the course of these transactions, drafted or revised commercial real estate leases, key employee employment agreements, covenants not to compete and escrow agreements.
Facilitated transfer of family-owned business among family members across three generations.
Developed strategy for diversifying risks facing manufacturing company client and its principals, as well as counseling the company on routine contract and corporate matters.
Counseled several “closely held” businesses regarding stock restriction agreements, valuation issues and estate planning issues.