Dentons advised Law Debenture Corporate Services Limited on the deal.
Law Debenture Corporate Services Limited, a wholly owned subsidiary of The Law Debenture Corporation plc, closed its binding agreement to acquire the company secretarial unit of Konexo UK, a division of Eversheds Sutherland International LLP.
The Acquisition consists of the company secretarial business and assets. The total consideration for the Acquisition is £20 million, payable in cash.
Under the terms of the Acquisition agreement, Law Debenture has agreed to acquire the business on a cash and debt free basis. For the financial year ended 30 April 2020, CSS recorded revenues of £6.2m, estimated EBITDA of £2.2m. Completion of the Acquisition is expected by the end of January 2021.
Established for 15 years, CSS is a respected part of the Konexo business with UK and international sector expertise. The transferring team has 55 employees, with 15 based in London, 1 in Hong Kong and the remainder in Manchester. The business services a client base of 480 in more than 100 jurisdictions.
The Dentons team, which was led by Corporate partner Claire Armstrong (Picture) and Corporate Senior Associate Adam Knowles, included Corporate Associate Gillian Cole, PRM Partner Alison Weatherhead, PRM Associate Emily Shaw, Banking & Finance Partner James Wilson, TMT Senior Associate Julie Brown, TMT Associate Muneeb Gill, Real Estate Associate Calum McKenzie, Real Estate Counsel Jo Campbell-Smith, Assistant General Counsel Kate Poppitt, General Counsel Andrew Cheung and others.
Involved fees earner: Claire Armstrong – Dentons; Julie Brown – Dentons; Jo Campbell-Smith – Dentons; Andrew Cheung – Dentons; Gillian Cole – Dentons; Muneeb Gill – Dentons; Adam Knowles – Dentons; Calum McKenzie – Dentons; Kate Poppitt – Dentons; Emily Shaw – Dentons; Alison Weatherhead – Dentons; James Wilson – Dentons;
Law Firms: Dentons;
Clients: Law Debenture;