Shoosmiths advises £27.5m of disposals
Shoosmiths' Birmingham corporate team has advised MML Capital Partners on two deals worth about £27.5m. The law firm supported the sales of two subsidiaries of Hallmark Industries.
The first deal involved the sale of the business and assets of West Yorkshire-based Zodion. The company was sold to W Lucy, a family owned Oxfordshire-based engineering company with offices in Dubai, India and Saudi Arabia.
Hallmark raised approximately £4m from the sale.
The second deal was the £23.5m sale of ZEAG, another subsidiary of Hallmark, to Italian trade acquirer FAAC SpA.
A gross enterprise value of about £23.5m was raised from the sale, said Hallmark. The company now has two remaining subsidiaries which it intends to divest over the next 18 months.
Switzerland-headquartered ZEAG develops and assembles car parking equipment and systems, providing both new products and aftersales service and support.
Shoosmiths’ team was led by Birmingham-based corporate partner Alastair Peet, with support from solicitor Robert Laugharne.
Peet said: "We thoroughly enjoyed working with MML Capital Partners on both of these deals owing to their multijurisdictional nature and complexity.
"It gave us the opportunity to draw on our commercial knowledge and make full use of our legal expertise in order to gain the best results for our client."
