Professionals: Bond Dickinson advises on Staples acquisition; New advisory team aims to boost North’s tech sector; and more

LAW firm Bond Dickinson has advised Hilco Capital on its agreement to acquire the UK retail office supply business and operations of Boston-headquartered Staples.  

Hilco Capital is a leading operator in the turnaround and restructuring sector in the UK, Europe, Canada and Australia. Retail veteran Alan Gaynor, who recently worked with Hilco to integrate the £400m turnover 99p stores into Poundland, has been appointed to work alongside the existing management team to build a plan for success for the business.

The Bond Dickinson team was led by corporate partner Tom Fitzpatrick.

He said: “We are delighted to have helped Hilco with this deal, which represents the fourth acquisition we have worked with them on in two years.”

Henry Foster, investment director of Hilco Capital, said: “In the market we operate in, we need advisers who can move fast, are agile enough to deal with unconventional situations and pragmatic and commercial enough to focus on what matters most: Bond Dickinson have delivered well in these situations.”

Bond Dickinson has acted for clients including Co-op, Clarks, GAP, House of Fraser, Kingfisher (B&Q, Screwfix), New Look, Sainsburys, Specsavers and TK Maxx.  

The firm also acts for other prominent investors in the retail and leisure sector, such as Piper Private Equity, backers of the Weird Fish and Turtle Bay brands.

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ADVISORY business Dow Schofield Watts has launched a technology team which aims to boost the growth of the North’s tech sector by helping businesses bridge the funding gap with the South.

The team will bring together Roger Esler, who heads the Yorkshire & North East office, with David Smith, a veteran tech investor and adviser and a former director of AXM Fund Managers, former technology developer Keith Benson, and Dave Graham who has a background in the mobile industry.

While the team will offer technology companies a full range of advice on how to grow and exit their business, access to finance will be the key focus – and in particular how to tap into the rich seam of venture capital in the London market.

Venture capital investment has long been concentrated in the capital. According to figures from CB Insights, UK tech firms secured a record £2.46bn in venture capital in 2015, although 63% went to companies in London.

Mr Esler, who has advised tech companies including Open Objects Software, Vebnet, PPL Therapeutics and Masternaut 3X, believes lack of access to finance is holding back the development of the tech scene in Yorkshire, Humber and the North East.

He says: “The North has strong talent offering high-quality investment opportunities. Start-ups are becoming more sophisticated and professional each year. We also have several vibrant, research orientated universities in the region. However, with a few notable exceptions, venture capital remains focused on London and investors rarely venture into the regions – even though strong competition for investments in London is pushing up prices.
 
“A key part of our role will be to help bridge the gap by introducing Northern technology companies to sources of investment in the capital. We will also provide a conduit to enable London-based venture capitalists to access opportunities in the North, where they are likely to get far more for their money.”

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WARD HADAWAY has been shortlisted for a top national award.

Organised by industry publication Legal Week, the British Legal Awards see firms from across England, Scotland and Wales all competing for accolades.

Ward Hadaway has been shortlisted for the Commercial Team of the Year Award, reflecting the quality of legal services across a range of specialisms with particular recognition of the role played by the firm’s specialist public sector team advising on the transfer of mental health services in the Vale of York to Tees, Esk and Wear Valleys NHS Foundation Trust.

Melanie Pears, partner and head of public sector at Ward Hadaway, said: “We are absolutely delighted to have been included on the shortlist for such a prestigious national award.

“The British Legal Awards are widely regarded as recognising firms, teams and individuals at the top of their profession so to be in the running for the Commercial Team of Year Award is a real coup for the firm and for the region for us to represent the quality of service we deliver in the North East on a par with that displayed anywhere else in the country.

“It is a reflection not just of the hard work, expertise and skills of the team here at Ward Hadaway but also of the vision and ambition of Tees, Esk and Wear Valleys NHS Foundation Trust.”