mARCH 2012 94 Legal Transactions
www.lawyer-monthly.com DEAL REPORT
BOND PARTNERS HAS GONE INTO ADMINISTRATION
Bond Partners LLP, which was based in both London and Warwickshire, has gone into administration, with RSM Tenon appointed to handle the case. Colin Wilson and Trevor Binyon have been appointed joint administrators of the
firm.
Partners Network – was also hit with a winding-up order by Hm Revenue and Customs (HmRC). RSm Tenon director, Colin Wilson, said: “Bond Partners fell into administration as
The partnership – which also had a 50% shareholding in the now-liquidated Bond
a result of significant claims against the partnership and a winding up petition by HmRC. “The firm invited the charge holder to appoint administrators in order to control the realisation of the assets and ensure the continuity of the case work. “The partners have continued to co-operate with the administrators.” Before the administrators’ appointment, a number of assets, including work in
progress (WIP), were sold to Axiom Recovery LLP – run by former members of Bond Partners. Axiom Recovery was set up on October 5 last year. Tenon confirmed that under the terms of the sale agreement a percentage of
realised WIP will be paid to the administrator for the benefit of creditors. Sister company Bond Partners Network – which was wound up by the High Court last year – acted as a marketing intermediary for accountancy firms. LM
Colin Wilson
RSm Tenon 66 Chiltern Street London W1 4JT
DEAL REPORT
ARDAGH ACQUIRES BOXAL FROM EXAL FOR €85M
Ardagh Group has agreed to acquire the Boxal group of companies from Exal Corporation in a transaction involving a total consideration of approximately €85 million. Boxal is a technically advanced aluminium container manufacturer supplying
aerosols and bottles to a wide variety of industries including cosmetics, pharmaceutical, food and beverages. It is a recognised world leader in packaging solutions with manufacturing plants principally in France and the Netherlands. Boxal’s state-of-the-art facilities have a total annual capacity of over 900 million containers and serve a suite of global brands including L'Oreal, Coca-Cola, Heineken, Dove, Pantene and Nivea. Niall Wall, Ardagh Group CEO, commented: "We are pleased to announce the
acquisition of Boxal which will assist us in further diversifying into the aluminium can market, enhance our product offering and add value to our current activities." Ardagh Group is a global leader in rigid packaging, producing metal and glass
packaging solutions for most of the world's leading food, beverage and consumer product brands. It operates 88 manufacturing plants in 25 countries, employs 14,000 and has global sales in excess of €3.2 billion. LM