Deals round up: KPMG acts on US sale; Gateley milestone & TP’s Swiss success
KPMG’s Manchester-based corporate finance team led by partner Jonathan Boyers and assisted by Chris Belsham and Jordan Foster advised Lloyds Banking group on the £154m sale of Yorkshire company Hill Hire to Florida-based Ryder System Inc.
The disposal by Lloyds is part of its stream-lining of its asset finance division
Hill Hire is a truck rental and contract hire firm based in Bradford, employing 300 people and with 13 depots across the UK.
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THE corporate team at law firm Gateley says it has advised on deals worth £500m so far this year.
Among the headline transactions has been a US$200m rivate equity fund formation on behalf of Infinity – the Manchester-based private equity and property fund manager.
Meanwhile real estate partners Rod Waldie and Darren Hughes advised Warrington-based bookmaker Betfred on the property aspects of its deal to buy the Tote.
Gateley carried out due diligence on an agreed sample of properties relevant to the deal on a rolling basis over a four month period. The team reported to Betfred’s in-house team and to Freshfields, its lead corporate lawyers in London.
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LAW firm Turner Parkinson has advised Swiss pharmaceutical company Shield Therapeutics, on an investment from Inventages Venture Capital in its first institutional financing round. The investment values Shield at €35m
Shield Therapeutics was founded in 2008 and also has UK operations based in Surrey. It specialises in the development and commercialisation of late-stage pharmaceuticals and will use the fundraising to further develop ao treatment for iron deficiency anaemia.
Corporate partner James Sheridan led the team at Manchester-based Turner Parkinson. He comments: “I have worked with Shield since it was founded and it is fantastic to see the team secure investment from a sector leading fund like Inventages.”
