Eversheds Sutherland (International) has advised Altrad Investment Authority S.A.S. (Altrad) on its recommended cash offer to acquire the entire issued and to be issued share capital of UK listed Cape plc (Cape).
The offer values the entire issued and to be issued share capital of Cape at up to approximately £332m on a fully diluted basis.
Under the terms of the recommended offer, Altrad, one of the worldwide leaders in the provision of industrial services, access solutions and light construction equipment in civil and industrial sectors, will acquire Cape through its wholly-owned subsidiary, Altrad UK Limited (Altrad Bidco).
It is intended that the acquisition of Cape, an international leader in the provision of critical industrial services to the energy and natural resources sectors, will be implemented by means of a takeover offer.
The Eversheds Sutherland team was led by the firm’s head of public M&A, Partner Stephen Nash (corporate, UK), and comprised: Partners Danny Blum (tax, UK), Stephen Rose (competition, UK), Sophie Perus (banking, Paris), and Nick Swiss (banking, UK), Legal Director Mark Roe (corporate, UK), Senior Associate Claire Morgan (competition, UK), and Associates Blandine Geny (banking, Paris), Hannah Kaye (corporate, UK), and Jia Xie (tax, UK).
Stephen Nash, Eversheds Sutherland, comments:
“We’re delighted to have supported Altrad on this significant and very strategic acquisition which is aligned with its growth strategy, to become the world leader in the provision of industrial services, scaffolding solutions and light construction equipment in civil and industrial sectors.”
Ran Oren, General Counsel, Altrad, comments:
“Eversheds Sutherland’s combined international resource and expertise and in-depth experience of advising on public company takeovers in the UK positioned them as ideal legal support on this transaction. The team provided first-rate commercial, legal advice throughout the deal and we look forward to continuing to work with them to successfully conclude this transaction.”
