Norton Rose Fulbright is currently advising on three takeover offers for Avesco Group plc, Lavendon Group plc and Creston plc.

Avesco is an international media services group providing specialist audio visual equipment, lighting equipment and services to the live events, broadcast and entertainment industries. Avesco is a long standing client of Norton Rose Fulbright spanning 20 years and has recently announced a recommended cash offer by NEP Group, Inc., valuing Avesco at £124 million. The offer is at a 125% premium to Avesco’s share price prior to release of the firm offer announcement. The transaction is expected to close by the end of 2016.

The offer follows disposals of non-core parts of Avesco’s business in the last 12 months, being Fountain Television Studios and Presteigne, both of which Norton Rose Fulbright advised on.

Norton Rose Fulbright is also acting for Bank of America Merrill Lynch as financial adviser to TVH Group on its unsolicited £348 million cash offer for Lavendon Group.  The firm has also recently advised Bank of America Merrill Lynch as financial adviser to Avnet on its competitive, £691 million recommended cash offer for Premier Farnell.

We are currently also acting for GCA Altium as financial adviser to DBAY Advisers Limited, an international asset management firm, on its £75 million offer for Creston, a marketing communications group.

Paul Whitelock, partner at Norton Rose Fulbright commented:

“We are delighted to have advised long standing client Avesco on its acquisition which represents a platform for the company to continue to accelerate its ambitions. There has been a real uptick in takeover activity, and our roles on these offers reflect the depth and breadth of experience of the team and the full service we, as a firm, can offer, ensuring we are consistently retained on public M&A mandates.  With a strong pipeline, activity levels look set to continue.”

The Norton Rose Fulbright team advising Avesco is being led by partner, Paul Whitelock (corporate, M&A and securities) with assistance from Fiona Millington (corporate, M&A and securities) and associates Christopher McCarthy and Joshua Temkin (corporate, M&A and securities).  The wider Avesco advisory team includes partner, Ian Giles (antitrust and competition), supported by associate Jamie Cooke (antitrust and competition), partner, Matthew Findley (tax) supported by tax associate Liron Cohen, and senior tax associate Andrew Roycroft.

Paul Whitelock is also leading the Norton Rose Fulbright team advising on the offers for Lavendon and Creston working alongside banking partner James Dunnett. Paul and James are being supported by senior corporate associate, Nicolas Sirtoli and senior banking associate Neha Khosla.