In spite of a recent slowdown in activity across some sectors, there is still some business taking place and our team of corporate lawyers have been involved in two high profile transactions in the last week.
A team lead by corporate Partner Richard Robinson and Napthens Head of Real Estate Jamie Allison advised long standing clients, the shareholders of Blue Owl Network Limited on the sale of their ‘AutoConvert’ platform to Autotrader Group PLC. AutoConvert is a finance, insurance and compliance platform with built-in customer relationship management systems, aimed at automating the full customer journey for the automotive sector. Its customers include automotive dealers, dealer networks and financial brokers. It is based in Manchester and employs 28 people. Travers Smith LLP has advised Auto Trader Group plc on the acquisition of Blue Owl Network Limited and RSM’s Preston Office provided tax and accounting advice to the Sellers.
The same team comprising corporate associates Sharon Harrison and Natalie Ormerod and trainee solicitor Nikita Passi as well as Employment Associate Chris King also completed the acquisition of Premier Retail Limited for e-liquid manufacturer Flavour Warehouse Ltd, owner of the Vampire Vape brand. The acquisition of Premier Vaping strengthens Flavour Warehouse’s international expansion and builds on the brand’s growth plans for the future. Premier Vaping, based in Stockport, is part of the Premier Retail Group, established in 2008 and now joins the Flavour Warehouse stable of companies which currently operates in over 80 countries via a network of franchises, distributors and resellers from its Blackburn headquarters. Premier Vaping was advised by Sonio Singh of Davis Blank Furniss.
Corporate Partner Richard Robinson commented: “ Completing two such high profile deals in a short space of time shows that the market is still active for the right kind of transaction and underlines Napthens’ strength in depth which allowed us to advise on two significant transactions completing within two days of each other. We’ve acted for both sets of clients for some time and are delighted to help them close these transactions in a challenging market”.