Simmons & Simmons is advising Investec Bank plc on the recommended offer for Allocate Software plc (“Allocate”) by Acorn Bidco Limited (“Acorn”) for cash consideration of approximately £109.6 million which will be partially funded using loan facilities provided by Hayfin Capital. The balance will be funded through financing provided by certain funds managed by Hg Pooled Management Limited. The offer is to be implemented by way of a scheme of arrangement, pursuant to which Acorn will acquire the entire issued and to be issued ordinary share capital of Allocate.

The Simmons & Simmons team is being led by corporate partners Edward Baker and Mark Curtis, and also comprises banking partner John Sayers, banking managing associate Wahid Rahman and corporate associate Thomas Burgoo.