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Corporate and Commercial

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:

Elman Wall and PwC

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:  
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:

TMD 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.

 

Project: Acquisition of the Webtrends Optimize business from Webtrends Inc.
Completion Date:            N/A
Target:  
Acquirer:

Accelerate Group Limited

Deal Value: N/A
Financial Due Diligence:

Menzies LLP

Details:

Advised Accelerate Group Limited on its acquisition of the Webtrends Optimize business.

Funding: N/A
Corporate Finance Advisers: N/A
Legal Advisers:

The IBB team advising Accelerate Group was led by Adam Dowdney (Partner) and included Michelle Waligora (Solicitor), Jonathan Allen (Solicitor) and Rustum Roy (Consultant) of the Corporate Commercial team as well as Richard Devall (Partner) of the Employment team.

 

Project:

Sale of Ghana subsidiary

Completion Date:               N/A
Target:

Cofco Holdings PTE Limited

Acquirer:  
Deal Value: $12 Million
Financial Due Diligence: Mazars
Details:

Advised Cofco Holding PTE Limited on its disposal of its subsidiary in Ghana.

Funding: N/A
Corporate Finance Advisers: N/A
Legal Advisers:

The IBB team advising Cofco Holdings PTE Limited was led by Adam Dowdney (Partner), Jaspreet Patter (Senior Solicitor), Michelle Waligora (Solicitor) and Jonathan Allen (Solicitor) of the Corporate Commercial team. Cofco was advised by its lawyers in Ghana (K Bram-Larbi) and lawyers in Singapore (Rosa Koo – David Chong Law).

 

Project: Acquisition of F.J.E. Plastic Developments
Completion Date:                 N/A
Target: F.J.E. Plastic Developments
Acquirer: The Celli Group
Deal Value: Undisclosed
Financial Due Diligence: KPMG
Details:

Acquisition of the entire issued share capital of F.J.E. Plastic Developments Ltd, a UK based specialist in recycled plastics and plastic moulding injection. The company was acquired through Celli’s UK subsidiary, ADS2 Holdings Limited, which had worked with FJE for a number of years, and which should result in a smooth integration and expansion of Celli’s manufacturing capabilities in the UK and across the Group.

Funding: N/A
Corporate Finance Advisers: N/A
Legal Advisers:

 

The IBB team advising the Celli Group was led by Adam Dowdney (Partner) and included Harriet Jones (Senior Solicitor) and Michelle Waligora (Solicitor) of the Corporate Commercial team as well as Richard Devall (Employment Partner), Jeff Elphee (Real Estate Partner) and Carina Turetta (Real Estate Solicitor).

 

Project: Sale of Bridge Fire and Security
Completion Date:  01/11/17                  
Target: Bridge Fire and Security
Acquirer: Thomas Wood Holdings
Deal Value: Undisclosed
Financial Due Diligence:  
Details:

Disposal of a majority shareholding (95%) in the target, to a company connected with the managing director of the target. The consideration was a mixture of cash and loan notes.

Funding:  
Corporate Finance Advisers:  
Legal Advisers: IBB Solicitors (seller); Curzon Green (buyer)

 

Project: Purchase of SRJ Homes
Completion Date:  20/10/17      
Target: SRJ Homes
Acquirer: Thrive Homes
Deal Value: Undisclosed
Financial Due Diligence:  
Details:

Acquisition by Thrive Homes of a corporate vehicle owning land at Two Waters Mill, Hemel Hempstead.

Funding: From working capital.
Corporate Finance Advisers:  
Legal Advisers: IBB Solicitors (acquirer); Kingsley David (selling shareholders)

 

 

Project: Asset Sale of London Waterjet
CompletionDate:  30/06/2017
Target: London Waterjet
Acquirer: Rob and Ryan Waterjet
Deal Value: Undisclosed
Financial Due Diligence:  
Details:

IBB Solicitors has advised Interarts on the disposal of its waterjet cuting business London Waterjet, which has provided a model making service to the film industry for over 10 years. The business was acquired by Rob and Ryan Waterjet, a company owned by Rob Cross and Ryan Walker.

Funding:  
Corporate Finance Advisers:  
Legal Advisers: IBB Solicitors advised Interarts. Rob and Ryan Waterjet was advised by Kidd Rapinet LLP.

 

 

Project: Project Angram
Completion Date:                      19/05/17        
Target: Acquisition of the entire issued share capital of Brewday (holding company of Angram).
Acquirer: ADS2 Holdings (UK subsidiary of Celli SpA)
Deal Value: Undisclosed
Financial Due Diligence: KPMG LLP
Details:

The Celli Group (an Italian company and leader in beverage dispensing systems and accessories) acquired Angram, a UK specialist in the manufacturing of traditional draught 'cask' beer pump systems and generic and bespoke fonts. The acquisition strengthens the Celli Group's position in the UK market and will increase revenue in excess of Euro 100 Million in 2017. 

Funding: HSBC Bank plc
Corporate Due Diligence: 121 Advisory
Legal Advisers: IBB Solicitors for the buyer; Raworths LLP for the sellers.