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Articles by Keith Spedding
Biotech Breakthroughs: Deal Duo for our Corporate Team
Our corporate team have completed a duo of deals in the biotech sector this week, raising more than £350,000 for pharmaceutical development company Nuformix and cancer diagnostics developer Cizzle Biotechnology. Long-standing client, Cizzle Biotechnology has raised £150,000 – through the issue of a convertible loan note – in order to fund the roll out of its CIZ1B early cancer test in the UK and Europe, to be used in the early detection of lung cancer.
Bumper Month In Fundraising Deals And Acquisitions
In under three weeks, corporate partner Keith Spedding, along with legal director Jennie Davis, supported the series of rapid-fire deals for businesses across property, energy, pharmaceuticals, tech and manufacturing. Deals included the acquisition of Gateway Electronic Components Ltd by long-standing client Solid State plc. The Worcester-based technology manufacturer purchased the ferrite and magnetic component experts in a cash deal worth £1.4 million.
Time To ACT PLC has been admitted to the AQSE Growth Market
Time To ACT plc, a Middlesbrough-based engineering business focused on technology for the energy transition sector, has been admitted to the AQSE Growth Market, with the support of law firm Shakespeare Martineau. The group currently has two principal operating divisions; Diffusion Alloys and GreenSpur, which offer coating technology and generator technology, respectively.
When sale and purchase agreements go wrong
For some time, uncertainty has been the prevailing feature of the UK business landscape but despite this, M&A activity has remained reasonably strong. Pulled along by favourable exchange rate movements and acceptance that some form of uncertainty is probably here to stay, demand for sale and purchase agreement (SPA) reviews has increased.
What’s in store for middle market M&A activity in 2019
The majority of dealmakers made the cautious prediction that 2018 would see merger and acquisition (M&A) processes stalling in the latter half of the year as the Brexit deadline came into sharper focus. Roll on to the present day and whilst this prediction wasn’t too far off the mark, actual deal volumes have remained steady (6% drop in Q3 2018 versus the prior year) and valuations for attractive assets are at a high since pre-recession.
Why Europe’s fastest growing companies turn to minority stakes and JVs
Fast growing companies in Europe are increasingly turning to taking minority stakes and setting up joint venture vehicles in order to turbo-charge their expansion. Our recent research shows that 82% of Europe’s 400 fastest growing companies have acquired a minority stake in another company over the last three years. 40% also say alliances and joint ventures are key to their success.
UK government introduces new national security merger review thresholds
Financial directors should be aware that the UK government has introduced new rules to make it easier to intervene in mergers that potentially raise national security concerns due to the target’s ownership of sensitive technology. Under the new rules, acquisitions of companies that produce or own intellectual property relating to military and dual-use products or ‘advanced computer technology’ will be reviewable by the government.
How SMEs can benefit from hiring corporate advisors
The term ‘corporate finance’ is not one that is often associated with smaller businesses. Covering a broad range of functions, from funding applications to due diligence, it is generally seen as being the domain of larger firms with financial resources available to devote to their corporate strategy. Contrary to this belief, many SMEs can actually benefit from the services of a corporate advisory firm.
Have you earned your exit?
The uncertain economic climate is leading more business owners to exit by selling their shareholding based on deferred consideration. Often these deferred payments are conditional on the business performance after completion otherwise known as “earn-outs”. Such arrangements can lead to disputes however and it is important for both parties – buyers and sellers – to enter them with their eyes open.
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