Recent Deals

Project:Hiremech Holdings
Completion Date:17 December 2018
Target:The Hiremech brand has been a successful independent dealer in North London for over two decades, specialising in hiring, trading and servicing forklift trucks.
Acquirer:Briggs Equipment UK Ltd
Deal Value:N/A
Financial Due Diligence:N/A
Details:Advising Paul Green and Roderick Smith (“Sellers”) on their disposal of the entire issued share capital of Hiremech Holdings Limited and its wholly owned subsidiary, Hiremech Limited, to Briggs Equipment UK Limited. The Hiremech brand has been a successful independent dealer in North London for over two decades, specialising in hiring, trading and servicing forklift trucks. The acquisition will provide momentum for Hiremech’s further growth as part of the Briggs’ brand, with Paul Green remaining involved in the business as it continues to develop.
Funding:N/A
Corporate Finance Advisers:N/A
Legal Advisers:IBB Solicitors - Adam Dowdney (Partner), Michelle Waligora (Solicitor), Azra Yousuf (Trainee Solicitor), Laura Jarrold (Paralegal) of the Corporate Commercial team, Richard Devall (Partner) of the Employment team and Jeff Elphee and Katherine Bereza of the Real Estate team.
Project:Project Nation
Completion Date:17 December 2018
Target:Ardmore Language Schools Limited including its UK subsidiaries Ardmore Education Limited, Ardmore Education, Travel Limited, and US subsidiary Ardmore Schools Inc. (the “Ardmore Group”). Ardmore Group specialise in language and educational travel programmes (to students from all over the world) in the UK, Europe and the US.
Acquirer:Cognita Limited (a global leader in independent education).
Deal Value:N/A
Financial Due Diligence:
Details:Sale of the entire issued share capital of Ardmore Group to Cognita Limited. The value of the target was determined by a locked box mechanism. There was a five-day delay between exchange of contracts and completion. The lawyers for both parties managed an extensive due diligence process in relation to, operational issues, employees, contracts, GDPR and property. Based on the due diligence, bespoke warranties and indemnities were negotiated. As part of the transaction, IBB advised on the structure of an intra-group asset sale from ULT Limited, a company owned independently by the seller (and not within the Ardmore Group) to the target.
Funding:N/A
Corporate Finance Advisers:N/A
Legal Advisers:IBB Solicitors for David Walker, the seller, and EMW Law LLP for Cognita Limited, the buyer.
Project:Sale of Issued Share Capital
Completion Date:N/A
Target:G2E Management Ltd
Acquirer:MD Technologies Limited
Deal Value:N/A
Financial Due Diligence:Mazars
Details:Advised the shareholders of G2E Management Limited on the sale of the entire issued share capital to TMD Technologies Limited.
Funding:N/A
Corporate Finance Advisers:N/A
Legal Advisers:The IBB team advising G2E Management Limited was led by Harriet Jones, Corporate & Commercial Senior Solicitor, and included Richard Devall, Employment Partner. TMD Technologies was advised by B P Collins LLP.


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