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M&A: Seller's Counsel

Vectra Announces Agreement to Sell Borchers Business Division to Affiliates of The Jordan Company

14 Dec 2016

Paul, Weiss represents Vectra Co., a leading technology-driven diversified company, and portfolio company of investment funds affiliated with Apollo Global Management, LLC, in its agreement to sell its Borchers business division to affiliates of The Jordan Company, L.P., a U.S.-based private equity firm. Terms of the agreement were not disclosed. The transaction is expected to close in January 2017, subject to customary closing conditions.

Setterwalls assists in sale of Dialect AB (publ)

13 Dec 2016

Setterwalls has advised Dialect AB (publ) in connection with a public offering by Perusa Partners Fund 2, L. P. to the shareholders of Dialect AB (publ), comprising all the shares in the company. Dialect delivers IT and telephony solutions to businesses. The offer valued the shares in Dialect to around SEK 248.4 million, and at the end of the initial acceptance period, the offer had been accepted by approximately 99.5 percent of the company's shareholders.

Vitruvian acquires majority shareholding in Phlexglobal from Bridgepoint

13 Dec 2016

Travers Smith LLP has advised longstanding client Bridgepoint Development Capital ("BDC") and management on the sale of Phlexglobal to Vitruvian Partners ("Vitruvian").

Phlexglobal is a world-renowned specialist and thought leader in the provision of electronic Trial Master File (eTMF) solutions for global clinical trials. With approximately 70 active clients, including 26 of the top 50 pharmaceutical companies, Phlexglobal is recognised as the predominant global TMF specialist in the market.

Herbert Smith Freehills advises on A$120m sale of Facade Access

13 Dec 2016

Herbert Smith Freehills has advised funds managed by Wolseley Private Equity (Wolseley) on the sale of their interests in Facade Access, a global market leader in permanent access solutions, to Alimak Group (Alimak).

Alimak is a leading, Stockholm NASDAQ-listed supplier of access solutions to the industrial and construction sectors. The consideration for the transaction is A$120m.

Gernandt & Danielsson advises in Nordstjernan’s divestment of Bygghemma Group

12 Dec 2016

Gernandt & Danielsson has advised Nordstjernan in connection with Nordstjernan’s divestment of its shareholding in Bygghemma Group Nordic AB to FSN Capital.

Bygghemma Group has, since Nordstjernan’s investment in the company in 2014, developed into the leading e-commerce company in the Nordic region within building and interior design products. For the 12-month period ending 30 June 2016, Bygghemma Group reported a turnover of SEK 2.3 billion and an EBITA margin of 3.4 percent.

Arthur Cox Advises on Fyffes PLC Acquisition by Sumitomo Corporation

12 Dec 2016

Fyffes PLC has announced its EUR 750 million acquisition by Sumitomo Corporation.  The acquisition is to be structured as a High Court sanctioned scheme of arrangement and is subject to customary closing conditions.  It is expected to complete in Q1 of 2017.

Advising Fyffes, corporate partner Stephen Hegarty is leading the Arthur Cox team, assisted by corporate partners Ciaran Bolger and Geoff Moore.  Employment partner Cian Beecher is also advising, as is litigation partner Colin Monaghan and tax partner Ailish Finnerty.

Burges Salmon advises ECI Partners and management on sale of rhubarb to Livingbridge

12 Dec 2016

Advising on all legal aspects of the sale, Burges Salmon's corporate team has advised ECI on the sale of premium food and beverage operator rhubarb to Livingbridge.

Burges Salmon's corporate team has advised ECI Partners and management on the sale of premium food and beverage operator rhubarb to Livingbridge.

Gowling WLG advises on £340m landmark deal for Opus Energy

12 Dec 2016

Gowling WLG's corporate team has advised the owners of energy supplier Opus Energy in its conditional sale to Drax Developments Limited, a member of the Drax Group, in a deal worth £340 million. The sale exchanged on 6 December and is expected to complete in the first quarter of 2017.

The acquisition will see Opus Energy form part of Drax's retail operations, in a move that will create Britain's fifth biggest non-domestic energy retailer. Stuart Young, a partner in the firm's Corporate Group, led the Gowling WLG team on this transaction.