Mills & Reeves advises US takeover
The Birmingham office of law firm Mills & Reeve has advised on the first UK acquisition of training company TTi Global. US-based TTi has bought Berkshire based IT consulting and recruitment provider Lorien Customer Focus and global learning and research consultancy Lorien Connect.
The two companies are said to be “a solid market fit” as both specialise in training for the automotive sector.
The combination has “tremendous application” to automotive dealerships, consumer durable goods manufacturers, industrial products and other sectors, said TTi Global.
Mills & Reeve’s Birmingham team advised the acquisition, led by Julian Smith.
Smith said: "We were pleased to advise TTi on this strategic UK acquisition which will further extend TTi’s ability to service their stellar international client base. TTi is a dynamic organisation and we look forward to advising them on future transactions.”
TTi's chief executive Lori Blaker said: "With a focus on clients and specialist sector knowledge both businesses share TTi's values and present a great fit.”
TTi expects the acquisition to add $13m (£8m) to its projected 2010 revenue of $60m (£37m) and 50 employees to its 1,350-strong staff.
Accountancy firm Baker Tilly also advised on the deal.
