Deals digest: DSG; EV; Bank of Ireland; Kuits & PKF
LIVERPOOL accountancy firm Duncan Sheard Glass has completed work on the complex and lengthy sale of personal injury specialist law firm Silverbeck Rymer to AIM-listed company Quindell Portfolio.
The transaction, although announced in January 2011, only completed last month as approval was required from Solicitors’ Regulation Authority. Silverbeck Rymer had to be granted alternative business structure status – which allows non-lawyers to own and invest in law firms.
DSG was the lead advisor on the Silverbeck Rymer disposal, which it also project managed. The company also advised on detailed tax structures associated with the deal.
DSG partner Paul Hyland said: “I think the transaction was, to a point, a learning process for everyone involved. As an accountancy practice, however, it afforded us significant experience of the factors and issues which come into play on such deals.”
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TEAMS from Enterprise Ventures and Bank of Ireland UK in Manchester supported the £6m MBO of Yorkshire company Winder Power.
Wayne Thomas and Paul Betts from Enterprise Ventures worked on the deal along with David Chell from Bank of Ireland UK.
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CORPORATE partner Kirsti Pinnell of Manchester law firm Kuits is advising Daily Internet plc on its move from the ISDX market to AIM, which is due to take place on Monday.
Daily Internet, a web hosting company, is chaired by Manchster-based veteran small company investor Michael Edelson, a long-term client of Kuits.
ISDX is the new name for the SME trading platform PLUS.
The move is thought to be the first AIM listing of 2013. PKF acted as reporting accountant on behalf of the company and its nominated adviser, Merchant Securities. PKF partners Jason Hiley and Don Bancroft worked on the deal.
