Advising Verdane on recommended cash offer for Augmentum Fintech plc

We have advised Verdane, a specialist growth buyout investment firm, and Frontier Bidco Limited (BidCo), a newly established company controlled by Verdane, on BidCo’s recommended cash offer for Augmentum Fintech plc (Augmentum).

The boards of BidCo and Augmentum have agreed the terms for the acquisition, pursuant to which BidCo will acquire the entire issued and to be issued ordinary share capital of Augmentum. The acquisition values Augmentum’s issued ordinary shares at approximately £185.7 million.

The transaction is being effected by BidCo, which is controlled by Verdane in its capacity as manager of Verdane Freya XII Investments AB.

Verdane is a specialist growth buyout investment firm that partners with tech-enabled and sustainable businesses that help to digitalise and decarbonise the European economy. The flexible mandates of the funds managed by Verdane allow it to invest as a majority or minority control investor, replacement or growth capital, in single companies or in portfolios of companies.

Our team advising Verdane and BidCo on this transaction was led by Corporate M&A Partner Andrew Edge and the principal team included Sam Curme (Senior Associate), Lizzie Freeth (Senior Counsel), and Amy Hughes (Associate).

The acquisition is subject to customary conditions. 

The team also included:

• Private Equity: Jonny Bethell (Partner), Emma Danks (Partner) and Alex Walker (Senior Associate).
• M&A: Paul Thorpe (Partner), Meg Burton (Senior Counsel), Nadege Serna (Senior Associate), Bhavna Pattanaik (Senior Associate), Rachael Roberts (Associate) and Isabel Norris (Trainee Solicitor) in the Corporate M&A team.
• Investment Funds: Shervin Shameli (Partner).
• Financial Services Regulatory: William Garner (Partner) and Neil Millar (Senior Associate).
• Tax: James Ross (Partner) and Bridget Winters (Senior Counsel).
• Competition: Paolo Palmigiano (Partner).
• Employment: Ruth Moffett (Senior Associate).