Hill Dickinson has advised Calder Products Limited (Calder Products), a newly incorporated company formed by Paul Cassidy (the Chairman of Casdon), Lynda Cassidy (Paul Cassidy’s wife), Philip Cassidy (joint Managing Director of Casdon) and Peter Cassidy (joint Managing Director of Casdon) (Paul Cassidy Concert Party) for the specific purpose of enabling the Paul Cassidy Concert Party to make the offer.

Under the terms of the offer, Casdon shareholders will be entitled to receive in respect of each share held, either cash consideration of 55 pence or 60 pence of which 20 pence will be paid in cash immediately and 40 pence in loan notes. The offer, if it were to be satisfied entirely by the cash consideration, values the entire issued share capital of Casdon at approximately £3.038 million and if it were to be satisfied entirely by the cash & loan note consideration, values the entire issued share capital of Casdon at approximately £3.314 million.

Casdon, which delisted from AIM in September 2014, is based in Blackpool and has been renowned for toy innovation for over 65 years and has an unrivalled reputation as a developer of toy replicas, with some of the most prestigious domestic appliance products on the market.

Casdon is effectively controlled by 4 members of the Cassidy family and the proposed takeover will see the immediate family of Paul Cassidy retain ownership and control of Casdon, allowing sons Peter and Philip to gradually take over full responsibility of the Casdon business when he retires.

The Hill Dickinson capital markets team, comprising Ian Gillis, David Mkhitarian, Rhian Hughes and Oliver Benson, advised Calder Products on the offer. Alex Clarkson of Diagnostic Capital was the financial adviser to Calder Products.

David Mkhitarian, corporate partner at Hill Dickinson, said of the transaction: “We enjoyed working with the Cassidy family on this transaction and wish them all the best in the future with the Casdon business. Our recent involvement in a number of public company takeover deals emphasises the quality of work undertaken by our Manchester-based corporate team and the depth of our resources. These instructions highlight Hill Dickinson's continued strength and reputation in public markets work”.