Corporate law firm DWF advises on a raft of deals

Frank Shephard

DWF has advised multinational specialist technology outsourcer Equiniti on the acquisition of pensions technology provider Aquila Group Holdings Limited from AquilaHeywood Limited.

The law firm has also advised real estate investment trust company, LXi REIT, on a number of high-profile transactions across the UK, totalling £109m.

The DWF Manchester corporate team provided legal services to Equiniti for the transaction which will enhance the business’s client offerings and add depth to its technology solutions service.

Aquila is a UK-based life and pensions technology provider for pension schemes and large insurance companies.

Its proprietary platform ‘Administrator’ supports propositions in workplace savings, bulk purchase annuities and heritage transformation.

National head of corporate at DWF, Frank Shephard, advised on the transaction alongside corporate partner Lisa Stavropoulos, partner Ben McLeod, senior associate James Cashman, associate Francesca Kinsella and solicitor Amelia Mackie.

This deal comes just months after DWF advised the business on its acquisition of specialist shareholder engagement company Boudicca Proxy Limited.

Frank Shephard said: “We’re delighted to have advised our long-standing client Equiniti on this transaction which will strengthen software options for its clients.

“It demonstrates the high level of financial services and technology acquisition capability within our corporate practice.

“We look forward to supporting Equiniti as it continues to diversify the services it provides to its clients.”

James Brown, group director of strategy & corporate development at Equiniti, said: “This is one of the many acquisitions where we have been advised by DWF.

“Their financial services technology expertise and responsiveness are highly valued by the Equiniti team.”

DWF’s corporate team has acted for a number of high profile clients in the past month, including advising LPW Technology, a leading manufacturer of ultra-clean Additive Manufacturing (AM) metal powders used for 3D printing, on its sale to USA industry giant, Carpenter Technology Corporation.

The firm also completed a number of transactions, totalling £109m, for real estate investment trust company LXi REIT, following a £175m capital fundraising earlier in October.

This has seen LXi REIT acquire a £60m 121-acre car storage facility in Northamptonshire, a £4.3m discount store in Carlisle, and a £30m Jury’s Inn Hotel in Plymouth.

The deals also include forward-funding of two developments in Scotland; the £8.5m pre-let development of a Lidl food store and B&M discount store in East Fife; and the £6.6m pre-let development of a 70-bedroom Travelodge hotel in Edinburgh.

Laurence Applegate, corporate partner at DWF and a team including senior associate Darren Ormsby and real estate director James Froud, provided the legal advice on each deal.

Laurence Applegate

The transactions range across a number of sub-sectors and will deliver further value to investors.

Mr Applegate said: “Each of the five investments represent high quality deals which are set to provide strong yields for our client.

“We’re pleased to draw on our diverse M&A capabilities to advise LXi REIT as they continue to deliver on their impressive acquisition and funding strategy.”

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