Wragge’s advises on £16m deal
WRAGGE & Co’s Public Companies team has advised Automatic Data Processing, a US-based business outsourcing solutions company, on its £16.2m public takeover of AIM-listed OneClickHR.
The acquisition of the solutions provider has been implemented under a court-approved scheme of arrangement. ADP has agreed a 10.5p per ordinary share offer for OneClickHR shareholders.
Corporate partner Jeremy Millington led the deal, supported by associate Richard Goold, solicitor Louise Baillie and the firm’s litigation specialists. The team worked closely with ADP’s assistant general counsel, Lech Choroszucha, vice president of corporate development, Joe Borrelli and UK in-house counsel, Vinita Schwartz.
Mr Millington said: “The complex transaction involved structuring an acquisition by way of a scheme of arrangement and delivering an analysis of the due diligence materials.
“Our technical expertise and understanding of the public companies market ensured a successful announcement and completion within a demanding timeframe.”
With nearly $9bn in revenues and around 570,000 clients worldwide, ADP is one of the world’s largest providers of business outsourcing solutions.
Wragge & Co has advised the company for a number of years, including acting on its cross-border acquisition of the Kerridge Group in 2005.
In this latest deal, Olswang and financial advisers KBC Peel Hunt advised OneClickHR. Financial advisers Mooreland Partners also advised ADP.
Led by three specialist partners, Wragge & Co’s Public Companies team advises on IPOs, secondary issues, takeovers, M&A and regulatory compliance issues. It forms part of the firm’s 17 partner, 70-lawyer Corporate group.
Other highlights include advising AIM-listed property company, The Conygar Investment Company, on its successful hostile reverse takeover of London and Channel Islands listed company, the Advantage Property Income Trust Limited (TAP). The team also advised Claimar Care Group in its £19.5m takeover by social enterprise Housing 21.
