Gateley Legal has advised LDC on the deal. Shoosmiths has advised Five Arrows Principal Investments and Five Arrows Capital Partners. McDermott Will & Emery advised Goldman Sachs Private Capital, as underwriter, on financing the acquisition.
LDC sold their investment stake in Texthelp, a specialist in literacy and accessibility technology, to Five Arrows Principal Investments.
Texthelp enjoys an established, loyal customer base across Europe, America, the Middle East and Australasia where they have supported 30 million students and employees with reading, writing and numeracy. They also help those with productivity challenges, such as dyslexia or working in a second language.
The firm employs over 180 staff and partners with the likes of Google, Microsoft, Apple and more of the world’s leading technology brands, in order to deliver the most compatible, best-in-class products and solutions.
With the backing of Five Arrows, Texthelp plans to continue its global expansion, investment in new technology and new product development pipeline.
The deal was led by corporate partner and head of Gateley Legal’s London office, Paul Hayward (Picture), with support from corporate associate, Zum Mohammed.
The Shoosmiths team who advised on the investment comprised Amit Nayyar, lead partner; Claire Checketts, partner; Aleks Bosch, senior associate; Adam Frost, associate and George Peyton, trainee solicitor.
McDermott Will & Emery advised Goldman Sachs Private Capital with a team led by partner Aymen Mahmoud and included associate Nicholas Jupp and trainee Ryan Clarke.
Involved fees earner: Paul Hayward – Gateley LLP; Zum Mohammed – Gateley LLP; Nicholas Jupp – McDermott Will & Emery; Aymen Mahmoud – McDermott Will & Emery; Aleks Bosch – Shoosmiths; Claire Checketts – Shoosmiths; Adam Frost – Shoosmiths; Amit Nayyar – Shoosmiths;