Penningtons Manches LLP’s corporate practice advises businesses of all sizes as well as management teams, shareholders, investors and lenders. Ranked as a first tier firm by The Legal 500, it includes 20 partners working collaboratively across seven offices in London, the South East and San Francisco. We spoke to them about their business, and their expertise in the M&A industry.
During the last 12 months, the team has acted on a broad spectrum of M&A transactions, experiencing increased workflow from both domestic and international instructions. Providing guidance from initial start up to growth and development transactions, whether by equity or debt funding, acquisition or joint venture, reorganisation, listing or buyout, it aims to help businesses achieve their goals through a combination of high quality legal advice and pragmatism. Current clients range from premier US investment banks to listed corporates on both the FTSE and AIM such as K3, Tate & Lyle and Brightside.
Penningtons Manches also acts for many high growth technology businesses. The launch of its San Francisco office reflects the development of a considerable network of contacts and clients in the area over recent years, many of whom are focused in the technology industry. The new office provides a springboard for its growing reputation as a ‘go to’ firm for US corporates looking to acquire businesses in the UK.
The corporate team includes a group of experienced accelerated M&A professionals with a strong track-record of advising both listed and private companies. Accelerated M&A often arises in the distressed side of the market. Generally it combines an in-depth knowledge of M&A transactions and restructuring and insolvency advice. Given the very tight timetables that the circumstances necessitate, it is important for specialists to be familiar with what is required to be done in a distressed situation to deliver a very fast acquisition, disposal or investment either with or without an insolvency process.
Partner Matt Martin and his team rose to prominence in this area when acting for All Saints Retail on its £107 million share disposal and investment with Lion Capital. The business was in urgent need of cash and underwent a limited marketing mandate which led to an accelerated process. Last year the team acted for the shareholders of Needle & Thread on the sale of the business out of administration to a newly formed investment vehicle. The ability to meet tight deadlines also made it possible to deliver the takeover of Brightside Group Holdings PLC by Anacap which was undertaken by scheme of arrangement.
Company: Penningtons Manches LLP
Name: Matt Martin
Web Address: www.penningtons.co.uk
Telephone: 020 7457 3000