Print this page (printer friendly)
Double deal success for Browne Jacobson in the East Midlands
22/10/2009
.
Browne Jacobson’s corporate team is celebrating after completing deals for two East Midlands based companies in quick succession.
In the first of the deals corporate lawyers successfully advised the shareholders in Derbyshire based OTR Tyres Group in relation to the disposal of a majority stake in the company to Kal Tire of Canada for an undisclosed sum.
Under the deal Kal Tire will acquire 51 per cent of the company, with OTR Group managing director Chris Skelton holding a 49 per cent stake. The new company will have 4000 employees based in 14 countries.
Browne Jacobson Corporate Partner Gavin Cummings led the Browne Jacobson team which also comprised Richard Medd and Andrew Noble.
Richard Medd said : “OTR has grown significantly in recent years but this deal puts them on a new footing. Both companies recognise it is important to keep pace with the changing demands and needs of their global client base and this tie-up will allow them to do just that. It will also give the venture access to new markets under one truly global brand.”
In the second deal Corporate Partner Mark Hughes and his team advised the owners of Coalville based City Digital (East Midlands) Ltd on the sale of the reprographic equipment business to The Apogee Corporation, one of the UK’s leading digital office solution specialists. This latest deal is Apogee Corporation’s seventh acquisition in four years and their second in 2009.
Mark Hughes added: “This deal allows our clients to exit the digital office solutions sector after more than 30 years and gives the Apogee Corporation the chance to strengthen its foothold in the Midlands in line with its strategic growth strategy.”
Submitted by Sarah Crennell