Lawyers reflect on completion of £21m dealsJun 25, 2018
The merger, which also includes recently acquired online letting agency urban.co.uk, involved securing £15 million funding from existing and new shareholders, plus additional investment from Channel 4 and Northern & Shell, via Sky.
It has created the UK’s second largest digital estate agency.
Lawyers at Shoosmiths in Milton Keynes advised Emoov in the deal. Corporate partner Amit Nayyar said: "We are very pleased to have helped our client to become one of the biggest players in this highly competitive market and this will no doubt lead to an exciting future for the newly merged company."
- Pictured: Amit Nayyar
Emoov chief financial officer Frank McGlade, who will be part of the new company’s management team, said: "Shoosmiths’ legal advice on what represented a major, strategic push for Emoov has been second to none and this is a really exciting time for all those involved."
Shoosmiths has advised UK-wide apprenticeship and training provider Progress to Excellence Group on a £6 million investment from Praesidian Capital Management Europe LLC and its subsequent acquisition of training company Complete Training Solutions.
The investment by Praesidian will help to fund PEG’s expansion programme, of which acquisitions are a major part. Its first purchase, CTS, is a leading health and safety training firm specialising in the construction, maritime, oil, gas and energy sectors.
PEG chief executive Sandra Kirkham said: "The multi-faceted advice given by Shoosmiths on both the investment into Progress To Excellence and our bolt-on acquisition of CTS was seamless. We are very much looking forward to growing our business.”
Mr Nayyar, who led the Milton Keynes-based team working on the deal, said: “These deals really do make a difference in their sectors. We are very pleased to have played a role in this one.”