BPE corporate lawyers dubbed ‘best in the UK’ after completing multimillion pound deal.
The corporate team at Cheltenham based BPE Solicitors LLP has recently announced a £10.5m deal for AIM listed investment company ViaLogy Plc, to acquire the entire issued share capital of Manchester based, molecular diagnostic company, Premaitha Health Limited. The deal is due to be completed in July.
In this highly complex deal, the team at BPE was not only responsible for the acquisition, but raised funds of £6.5m by means of a share issue for new investors and a further £0.7m from existing shareholders.
Under AIM rules, the Acquisition is of sufficient size to constitute a reverse takeover, BPE was responsible for delivering waiver obligations under Rule 9 of the takeover code, which is subject to shareholders approval at a General Meeting on 3rd July.
The net proceeds of the Placing and the Open Offer will be used to develop and commercialise the IONA Test, a non-invasive pre-natal screening test for Down’s syndrome developed by Premaitha, as well as for general working capital. ViaLogy believes the IONA® Test will be the first regulated CE marked in vitro non-invasive diagnostic, pre-natal, test product to market.
Chairman of ViaLogy Adam Reynolds commented, “My colleagues and I are hugely impressed with the work that Tim Ward, Katie Yorke, Rachael Reeves and the rest of the Corporate team at BPE has done on this transaction. In my opinion I am dealing with the best corporate lawyers in the UK.”
Partner Tim Ward, who led the deal, commented, “This was an extremely complex deal which highlights the quality of work and breadth of experience that you would expect to find in a London law firm. BPE’s clients can benefit from this wealth of experience from the company’s Cheltenham base at a fraction of the cost of a City firm.”
BPE has also recently been responsible for the acquisition of Clinical Research Company, Venn Life Sciences Ltd, for Armscote Investment which included share restructuring and fundraising of £2.5m, as well as the float of Chalkstream Investment Company to the ISDX market.
“BPE is an entrepreneurial business and we enjoy working with likeminded businesses and individuals,” said Tim. We’re not ‘just lawyers’, we’re trusted business advisers. We’ve retained clients for decades and supported young businesses to become multi million pound, multi-national operations. From starting up and structuring a business to development either through growth, joint ventures, buying and selling to floating on the stock market.”
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.