Pinsent Masons advises Premier Technical Services Group plc on £265m takeover

25 Jun 2019 | 09:36 am | 1 min. read

International law firm Pinsent Masons is advising Yorkshire based Premier Technical Services Group plc on its recommended acquisition by an entity set up by the Australian investment group Macquarie.

Bernard Bidco Limited, which is wholly-owned by the Macquarie group, has offered to pay Premier Technical Services Group shareholders 210.1p per share. Under the terms of the acquisition, the deal is valued at approximately £265 million on a fully diluted basis.

The Pinsent Masons team is led by corporate finance partners Russell Booker and Julian Stanier alongside legal director Adam Cain, with assistance from senior associate Chris Watts, senior solicitor Robyn Stevens and trainee solicitor Molly Dyas. Legal director Fleur Benns is providing incentives advice.

Commenting on the deal, Russell Booker said: "We have acted for Premier Technical Services Group for a number of years and our knowledge of the client and the sector has been a real asset for this transformational deal.

"This highly significant deal builds on the success of Pinsent Masons in undertaking complex public M&A transactions, having now acted on 10 Takeover Code governed transactions over the past two years."

Premier Technical Services Group plc is engaged in the maintenance, inspection, testing, repair and installation of permanent facade access equipment, fall arrest systems and lightning protection systems. Headquartered in Castleford, West Yorkshire, the Group employs 1,200 people across 31 UK sites, who service more than 180,000 buildings across the whole of the UK for over 20,000 customers in a wide range of industries.

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