Deals Round-up: DLA Piper, Pinsent Mason, Squire Sanders, Ward Hadaway
MANCHESTER partners at law firm DLA Piper advised Montagu Private Equity on the sale Jemella Group, which trades under the ‘ghd’ hair styling brand name, to Lion Capital.
ghd, best known for its range of styling irons sold through hair salons across the world, is based in Leeds after being founded by a trio of businessmen who operated out of Ilkley in 2001.
Montagu acquired ghd for £160m in 2007 and has focused on launching into new markets and investing in research and development.
Corporate and client relationship partner Nick Roome along with corporate partner Stephen Devlin led the DLA Piper team, which included corporate lawyers Louise Barber, Melanie Kay and Elizabeth Kenny.
The transaction also involved a team of lawyers across a variety of specialisms and a number of DLA Piper’s international offices, including Italy, France, Germany, Australia, Sweden, USA, Spain and Norway.
Montagu and ghd were also advised by Ernst & Young. Lion Capital was advised by Rothschild. Financing was provided by Lloyds. SJ Berwin acted for Lion Capital.
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A TEAM from the Manchester office of law firm Pinsent Masons has advised Cambridgeshire-based ALS Testing Services (UK) on its acquisition of Severn Trent Laboratories (STL) from the utilities group Severn Trent.
STL, which has an office in Runcorn, provides a range of analysis and sampling services to the water, construction and waste industries. The company will now trade as ALS Environmental.
ALS is a subsidiary of ALS Limited, a company which is listed on the Australian stock exchange. It has more than 13,000 staff and 350 laboratories in 55 countries.
In 2011 it acquired the Knowsley-based mineral testing business, the Stewart Group.
Gregg Davison led the Pinsent Masons’ team assisted by senior associate Sarah Flinn and supported by property specialists, Matt Rowlands, Kate Bentley and pensions specialist Nina Choudhury.
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A TEAM from the Manchester office of law firm Squire Sanders has advised Houston-based, Cardtronics on its takeover offer for Dundee-based, AIM-listed, i-design group.
The Manchester office of corporate finance adviser DC Advisory also worked on the deal.
Cardtronics, listed on NASDAQ with a market capitalisation of $1.2bn, supplies ATM machines around the world. i-design provides marketing and advertising software and service for ATM owners.
Steve Rathgaber, Cardtronics Chief Executive commented: “Adding i-design and its capabilities means that Cardtronics can leverage its existing financial institution and retailer relationships to expand i-design’s global market position, which in-turn enhances the value proposition Cardtronics can offer its customers, as well as consumers using our ATMs”
The DC Advisory team was led by managing director Richard Pulford, while corporate partner Andrew Millar led for Squire Sanders.
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LAW firm Ward Hadawy has advised on Allied London’s deal to take full control of the Spinningfields development in Manchester after buying out property investor Delancey and the Royal Bank of Scotland, which each held 40%.
The acquisition of Spinningfields’ holding company, Capital Holdco, has been backed by Pramerica – part of US-based Prudential Financial – and a loan from RBS.
Allied London set up Capital Holdco as an acquisition vehicle with Delancey and RBS in September 2006, when the trio conducted their own buyout of RREEF and JER Partners from Arrow Properties, Allied London’s holding company.
Nick Bell, partner in the banking and finance unit at Ward Hadaway, led the firm’s team. He was assisted by partner Judy Fawcett, consultant Brian Green and solicitor Christina Kettlewell from the property team. There was additional support from Gavin Maddison, solicitor Helen McKenzie and trainee solicitor Phillip Murphy in Ward Hadaway’s corporate finance team.
