RWS Holdings Plc’s US$320m acquisition of Moravia

RWS Holdings Plc has announced its proposed US$320m acquisition of Moravia, a Czech-based provider of technology enabled localisation services.

Ashurst is advising RWS in relation to a £185 million cash box placing and its entry into a new US$160m term loan to refinance the company’s existing facility. The financings which are both fully underwritten are intended to fund RWS’ acquisition of Moravia, which is conditional upon, among other things, completion of U.S. anti-trust law filings as well as each of the financings. Completion of the acquisition is expected to occur in November.

AIM listed RWS is a world leading provider of intellectual property support services (patent translations, international patent filing solutions and searches), commercial translations and linguistic validation. The transaction is strategically important for RWS as Moravia will create a third division of scale for RWS and will operate on a standalone basis alongside the company’s other existing patent translation & filing and life sciences divisions.

The Ashurst corporate team is being led by Karen Davies (picture) and Aaron Shute, assisted by senior associate Tara Waters, and associates Jack Mendelssohn and Louise Chan. Partner James Collis led the banking team, assisted by senior associate Victoria Charlesworth, and associates Danielle Kelly and Sarah Curry. Partner Nick Gardner and associate Martin Voelker provided tax advice. Partner Dominic Ross and counsel David Baxter also advised.

Involved fees earner: Karen Davies – Ashurst; Aaron Shute – Ashurst; Tara Waters – Ashurst; Jack Mendelssohn – Ashurst; Louise Chan – Ashurst; Dominic Ross – Ashurst; James Collis – Ashurst; Sarah Curry – Ashurst; Danielle Kelly – Ashurst; Victoria Charlesworth – Ashurst; Nicholas Gardner – Ashurst; Martin Voelker – Ashurst; David Baxter – Ashurst;

Law Firms: Ashurst;

Clients: RWS Holdings PLC;