Deals round-up: Eversheds, McGrigors, Pinsents, Zeus, Kuits
CORPORATE partner Danny Hall led a team from Eversheds in Manchester advising long-standing client Holidaybreak on its £300m+ takeover deal by Indian leisure firm Cox and Kings.
Hall was assisted by senior associate Alasdair Outhwaite and associate Geoff Allen.
He said: “We have worked with Holidaybreak for many years now and have helped the company grow into the successful education travel business it is today.
“It is a great honour to be advising the company on what promises to be the most significant strategic decision in its history.”
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THE Manchester-based Infrastructure team at law firm McGrigors has completed a hat-trick of deals within the first half of 2011 with a combined valued of £3bn.
The most recent transaction, which involves a £400m deal for the regeneration of 19 sites across Sheffield, closed this week. Prior to that, ot advised on a multimillion deal for the regeneration of the Scotswood area of Newcastle, plus a £1.8bn facilities outsourcing contract between Royal Mail and Stockport-based outfit Romec.
Nick Ogden, a partner in the Infrastructure practice at McGrigors, said the last six months have been “fraught, but incredibly satisfying”.
He said: “It’s been a busy period and we fully expect that to continue into the next six months. A lot of the deals we have been working on involve construction firms partnering with local authorities which have a strong appetite for regenerating deprived areas.
“There is no doubt that local authorities had to await the outcome of the public spending review, and then local elections, before spending priorities could be decided. However, now that they have, we are seeing a strong pipeline of work emerge as similar projects go out to tender.”
Ogden says that many of the funding models for public private partnerships show real innovation as a result of spending pressures – and that a useful blueprint could exist for further regeneration projects in and around Manchester.
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THE corporate team at Pinsent Masons is celebrating a milestone month after advising on deals worth £500m in July alone.
The biggest deals were the £300m reverse takeover involving Redefine International and Wichford plc and the £148m sale of the Knowsley-based mineral testing business Stewart Group to Campbell Brothers in Australia.
Gregg Davison, head of corporate in Manchester said: “2011 has been a great year for the North West team and we have helped a number of key clients achieve their goals, but July has been a particularly fantastic month with the team advising on so many large transactions.”
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ZEUS Capital, the Manchester based corporate finance adviser, acted for AIM-listed insurer on its £5m recommended takeover by Giles Insurance Brokers.
Alex Clarkson, Tom Rowley and Aaron Smyth advised on the deal, working closely with Altium Capital.
Alex Clarkson, director at Zeus Capital, commented. “We have advised CBG for many years now helping them raise money and identify acquisitions. It was therefore pleasing to be able to assist them during this final transaction which, if completed, will see the team now form part of a much larger insurance business.”
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MANCHESTER law firm Kuits advised The Perfect Pizza Company on the purchase of the Perfect Pizza takeaway franchise business out of administration.
James Wall and Greg Phillips led the Kuits team. Wall said: “We advised The Perfect Pizza Company Ltd on the various difficult issues which arise in a deal of this nature, including the corporate, property and intellectual property aspects associated with the purchase of a franchise business, with the added complexity and speed of action involved in purchasing from administrators.”
Kuits also assisted in the arrangements for this evening’s testimonial match for ex- Manchester United and England star Paul Scholes.
Corporate partner Rob Buckley and media lawyer Rudi Kidd advised The Paul Scholes Testimonial Committee on the agreement with New York Cosmos. The firm also advised on the negotiations with Manchester United to host the game at Old Trafford and negotiated the broadcast rights with MUTV to show coverage.
