48 deals
Penningtons Manches advises on sale of Wirebird
Penningtons Manches has acted for the selling shareholders on the sale of Wirebird to Timico, for an undisclosed sum.
Wirebird is a London-based, privately-held IT support and managed services provider with a portfolio of offerings ranging from fully-managed hosting through to complex infrastructure projects and IT transformation programmes. The company works on projects in both traditional on-premise and hosted (cloud) environments.
three sites in London, Reading and Auckland, New Zealand.
Timico is an independent business Internet, hosting and communications service provider and this was the company’s eighth acquisition in its 11-year history. The acquisition added complementary services to its existing portfolio of managed network, unified communication, cloud and hosting and enterprise mobility solutions. Eversheds LLP acted for Timico.
The Penningtons Manches team was led by Oxford-based corporate lawyer James Went, with corporate associate Nicola Sole and tax partner Stephen Goldstraw.
Went commented: “We’ve been involved with Wirebird since its foundation in 1998 and it was great to be able to help as the business
Specialist Tours sold to Kings Park Capital
James Cowper Kreston corporate finance has advised Specialist Tours on its disposal to Kings Park Capital LLP – a private-equity investor focused on the leisure sector. Kings Park Capital has acquired a majority stake in Specialist Tours for an undisclosed consideration.
It has 50 staff across its James Went
moves on to its next phase under Timico’s ownership.”
Wirebird CEO, Malcolm Gardiner, said: “Penningtons Manches has provided Wirebird with excellent service and guidance in all areas of our business over the years. James Went’s management of the sale was an endorsement of the team’s professionalism.”
Details:
www.penningtons.co.uk
Cartwright King merges with Oxfordshire solicitors Macnab Clarke
National law firm Cartwright King and Abingdon solicitors Macnab Clarke are merging as part of Cartwright King’s continued expansion drive.
The deal, effective from July 1, sees Cartwright King secure a new presence in the south, with an office in Oxfordshire for the first time. This takes the firm’s portfolio from 17 to 18 offices nationwide, including one in Reading.
The move brings one new director, Kate Macnab, and eight staff – taking Cartwright King’s newly-enlarged firm to over 260 employees.
In addition to reinforcing the firm’s criminal law reputation, particularly in the area of fraud, the merger will also see Cartwright King expand its motoring law team.
Commenting on the deal, Rupert Hawke, managing director of Cartwright King, said: “I am delighted to announce our most recent merger, which will not only boost the firm’s geographical offering but also our expertise in crime and serious fraud cases.
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“Macnab Clarke is a highly-respected firm, with a great reputation built on results. This fits exceptionally well with Cartwright King’s culture and determination to deliver the very best possible service for our clients.
“This merger represents another key development in Cartwright King’s ongoing expansion plans, and we continue to welcome enquiries from firms across the UK.”
Kate Macnab, director at Macnab Clarke, added: “We are delighted to become part of Cartwright King. We welcome the opportunities this brings to our staff and clients and intend to help Cartwright King continue to build and develop a strong presence in the Thames Valley.
“We are especially pleased that our reputation for client care and commitment to criminal legal aid, built up over the past decade, will be developed and expanded through this collaboration.”
Details:
www.cartwrightking.co.uk
In 2013, Specialist Tours received funding from Panoramic Growth Equity to acquire Andante Travels – the leading provider of archaeological tours. The investment was made from Panoramic’s Enterprise Capital Fund 1 and supported management plans for organic and acquisitive growth. Since 2013, Specialist Tours has acquired three other niche travel companies – Historical Trips, Lindstone Inc (t/a Archaeological Tours) and Arblaster & Clarke Wine Tours.
Kings Park Capital intends to support Specialist Tours’ growth strategy by providing funding to continue the investment in the Group’s team and infrastructure, as well as further acquisitions of niche tour operators in adjacent special interest areas, a number of which have already been identified. Specialist Tours will continue to be led by Ian Finlay, the CEO, and other members of the senior management team will also remain with the business.
Stewart Lambert, partner in James Cowper Kreston corporate finance, commented: “We are delighted to have advised Ian and the other members of management on the sale to Kings Park Capital. Specialist Tours has developed a strong brand portfolio within the travel industry and with Kings Park Capital’s involvement, the Group is well- positioned to drive further growth.”
Finlay said: “I would like to thank Stewart and his team for advising on the original transaction, the three acquisitions and exit.”
Kings Park Capital was advised by Travers Smith LLP. Due diligence was performed by BDO LLP (financial and tax), Mills & Reeve LLP (legal), Intuitus (IT) and The Travel Trade Consultancy (regulatory). As well as James Cowper Kreston corporate finance, the shareholders of Specialist Tours were advised by Southampton-based Pitmans LLP.
THE BUSINESS MAGAZINE – THAMES VALLEY – JULY/AUGUST 2015
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