Mills & Reeve steers Trafficmaster along the right track

THE Birmingham office of law firm Mills & Reeve has advised the executive team of satellite navigation business Trafficmaster on its takeover by Vector Capital Limited. The offer valued Trafficmaster at approximately £73.3m.
 
Mills & Reeve was appointed to Cirencester-based Trafficmaster’s panel of legal advisers in 2009 after a competitive tender involving other leading national law firms.
 
Trafficmaster’s executive directors approached the law firm during negotiations with Vector Capital for legal advice on a number of different issues.

The Mills & Reeve team was led by corporate finance partner – and TheBusinessDesk.com’s Deal of the Month judge – Julian Smith and corporate finance associate Stephen Hamilton. Andrew Secker provided employment advice and Deborah Clark assisted in relation to share incentives and private tax issues.
 
“It was a pleasure to help Trafficmaster’s executive directors at what was a very important time for them. The executive team is clearly critical to Trafficmaster’s continued success and we wish them well in relation to the next chapter in [their] life,” said Mr Smith.
 
In addition to Mills & Reeve, Canaccord Genuity acted as financial adviser to Trafficmaster, Pinsent Masons acted for Trafficmaster, Panmure Gordon acted as financial adviser to Vector Capital and Shearman & Sterling acted as legal adviser to Vector Capital.