Pictured above: Richard Medd
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."
Pictured above: Mark Hughes
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."