Taylor Wessing advises on Xpertise Group acquisition to create the UK's second largest IT training company
European law firm Taylor Wessing LLP has advised Xpertise Group plc, an AIM-quoted company providing IT and professional training services, on its acquisition of Parity Training Limited, a subsidiary of LSE listed Parity Group plc and a top ten UK IT training company, in a deal which will create the second largest IT training company in the UK. The acquisition was announced on 23 July 2008 and, subject to the acquisition being approved by the shareholders of both Xpertise and Parity, is scheduled to complete on 29 August 2008.
Following completion of the acquisition, the enlarged Xpertise group's turnover will be almost double that of its nearest competitor and will help to achieve the group’s objective of being the leading provider of technical, soft skills, project and service management training, in addition to its position as a leading provider of managed training services. The consideration for the acquisition will be financed by a placing of Xpertise shares, a new loan facility and existing cash resources.
The Taylor Wessing team advising Xpertise was led by Tim Stocks and Lee Bagshaw (Financial Institutions & Markets), together with Martin Yells in Finance.
Ashurst acted for Parity Training, while Halliwells acted for Barclays, who provided the debt facility.
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For more information please contact Claire Treacy at Taylor Wessing:
Tel: +44 (0)20 7300 4925
Email: c.treacy@taylorwessing.com
Taylor Wessing LLP is a leading law firm providing legal support for commercial organisations doing business in Europe, the Middle East and China. Based in Belgium, Dubai, France, Germany and the UK, Taylor Wessing provides the full range of legal services to major corporations and growing enterprises. Taylor Wessing boasts a strong reputation in the corporate, finance and real estate sectors alongside in-depth experience across the full range of legal services including intellectual property and technology, tax, litigation & dispute resolution, employment & pensions and private client.