Shoosmiths advises on trio of major public to private deals
January, 2024 - Milton Keynes, England
Shoosmiths' M&A team continues to be at the forefront of major public to private deals, having recently advised on three substantial transactions.
The firm acted for Main Market listed Ten Entertainment Group plc, one of the UK’s largest ten-pin bowling operators, on its proposed £287 million takeover by US private equity firm Trive Capital. If approved, the deal announced at the beginning of December, would take the company private. The shoosmiths team advising Ten Entertainment Group was led by partners Nick McCarthy and Oliver Pilkington, with support from Emma Livesey, Mandeep Vryaparj and Chloe Mackay.
Ten Entertainment's CFO Antony Smith, thanked Shoosmiths for their expertise on getting the deal to this stage, describing the advice received as ‘outstanding’.
Reflecting a recent rise in the number of takeover bids for London-listed companies, the firm also advised AIM-listed Smoove plc, a mortgage software provider, on its takeover by Digcom UK Holdings, an indirect subsidiary of Australian property platform PEXA Group, in a deal worth £30.8m, by way of a scheme of arrangement (effective 19 December) led by Nick McCarthy and Andrew Millar.
In November Nick led the team advising the directors of Rotala Group Ltd, a privately owned investment vehicle formed specifically for the purpose of acquiring West Midlands-based bus operator Rotala PLC. Upon the scheme of arrangement becoming effective, the £23.5m proposed takeover of the AIM-listed business, will see it taken private towards the end of January.
These deals also follow a raft of delisting where the firm recently acted on the delistings of Fulcrum Utility LTD and Source Bioscience PLC.
Equity capital markets partner, Nick McCarthy, said: "Shoosmiths’ extensive experience advising both corporates and financial sponsors on public takeovers demonstrates our leading capabilities. We have an exceptional track record guiding clients through the entire ‘take private’ process, from planning to completion. These transactions showcase the strength and versatility of our deals practice.”
Equity capital markets partner, Oliver Pilkington added: “In the dynamic landscape of equity capital markets, Shoosmiths continues to lead the way in navigating transformative deals. Our recent successes in steering major public-to-private transactions underscore our commitment to excellence. Whether advising London Stock Exchange giants or AIM-listed innovators, our expertise shines through, proving that Shoosmiths is the trusted partner for strategic and high-value public M&A transactions.”
These recent successes demonstrate Shoosmiths deep expertise, guiding clients through strategically complex and high-value public M&A transactions. Our experience and senior deal team positions us strongly for further high-profile instructed roles as the private equity appetite for UK Plc remains robust.
