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Southampton: Paris Smith has strong start to year

24 May 2012
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Paris Smith LLP’s Corporate team has closed a number of high-profile deals during the first quarter of 2012 giving them a strong start to the year.  

Sean Davies, head of corporate, commented: “Our strong corporate deals/commercial partners and senior lawyers have seen their patience and hard work rewarded by a number of successful deal closures.  It has been particularly satisfying for the firm to have worked with business owners and managers on these regional deals from our strong Southampton base.”
Some of the larger transactions completed include:

  • Andrew Heathcock and Jonathon Roy acted for the shareholders of Portsmouth-based pharmaceutical packaging company Cope Allman Jaycare on its sale to Nolato AB for an initial consideration of £16m. Nolato is a Nasdaq OMX Nordic exchange listed hi tech manufacturer of polymer product systems.
  • Commercial partner Crispin Dick advised Hampshire Cricket on its ground naming rights partnership deal with insurance major Ageas, whose UK head office is located in Eastleigh.  Following the deal, Hampshire Cricket’s stadium, previously the Rose Bowl, was renamed the Ageas Bowl. The stadium plays host to international cricket matches besides being the home of Hampshire Cricket, and is also a major venue for concerts, conferences and community based projects.
  • Michael Moore headed the team advising Hampshire-based medical device maker Microsulis Medical in its new strategic partnership with Nasdaq-listed AngioDynamics Inc.  AngioDynamics made a $5m equity investment in Microsulis through the purchase of preferred shares, representing a 14.3% ownership position, valuing the Microsulis group at some $35m.  In addition, Angio Dynamics was granted exclusive distribution rights to market and sell Microsulis’ microwave tissue ablation (MTA) system in all markets outside the US. The final part of the deal is an exclusive option for Angio Dynamics to purchase substantially all of the global assets of Microsulis, including its MTA technology and its worldwide distribution rights.
  • Richard Swain led Paris Smith’s advice to the Braeforge Group upon its new industry investment of £2.25m. The investment will provide a secure financial platform for the £40m turnover company to enable it to continue to expand organically through its extensive delivery network.  Braeforge, which trades under the brand name Pensworth, is a major supplier of milk to local dairymen and along with the latest polybottle offerings is also one of the largest milk suppliers of traditional glass bottled milk.
  • Jonathon Roy and Michael Moore advised Masterlist on an investment by a leading City stockbroker. Masterlist is the holding company of a group trading under the All My Plans brand, and which owns cutting edge technology for online personal financial investment management.
  • In the leisure sector, Andrew Heathcock advised Livingstone Leisure Limited on the acquisition of the share capital of Birdland Park, the owner of Birdland Park and Gardens, based in the Cotswolds.

The outlook for continued deal conclusions looks strong over the coming months, said the firm.

Resources: Paris Smith website


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