Pictured above: Corporate lawyer Andrew Smith, Partner at
Needham & James led the team advising Microstat on its sale to
Sala
One of the South Midlands' leading teams of corporate lawyers at
local firm Needham & James has advised the owners of Microstat,
the specialist document management company, on its sale to one of
the UK leaders in record management, Sala Integrated Information
Management.
In the deal, Needham & James acted for Microstat's
shareholders, including the company's founder Steve Cave and
managing director Tim Myatt, who will continue to lead the business
under its new ownership.
According to Microstat, the acquisition brings new and
significant investment to Microstat's products and services, giving
the ability to deliver a broader and more enhanced digital
offering. The transaction combines Microstat's services as a
specialist archiving solutions supplier, with the records
management expertise and significant infrastructure of Sala.
Needham & James' team acting for Microstat was led by
Corporate Services Partner Andrew Smith, who comments: "It is
nearly thirty years since Steve Cave founded Microstat and this
transaction was clearly very significant for him, his fellow
shareholders, and the business as a whole. Needham & James was
recommended to Microstat when they decided to seek an exit from the
business last year, and we are very pleased the management team
opted to choose us to guide them through the sales process.
"For both parties, the aim of the acquisition is to develop an
Integrated Records Management outsourcing solution, embark on an
acquisition drive and to expand both nationally and potentially
internationally," explains Andrew. "Under the leadership of the new
company's CEO Tomas Gronager, further ambitious growth is
planned."
Other lawyers from Needham & James working on the
transaction were Corporate Solicitor Toby Harper and Employment
Associate Victoria Tester. Microstat's shareholders' accountants on
the deal were Jerroms, whose team was led by Partner Richard
Horton. Law firm CMS Cameron McKenna acted for Sala, whilst funding
for the deal was provided by Lloyds Development Capital (LDC).
Founded in 1982, Microstat provides digital document services to
a range of blue-chip organisations including DHL, Halfords and
Rolls Royce.
Sala Integrated Information Management operates in a wide range
of sectors, including Financial Services, Public Sector, Healthcare
Support Services and Retail. Within the private sector, it too has
a number of blue-chip corporate clients, while in the broad public
sector it acts for major councils, NHS Trusts and broadcast
organisations.
Needham & James merged with Midlands law firm Shakespeare
Putsman LLP last year. The combined firm has around 450 people
located in five offices - Birmingham, Nottingham, and Stratford
upon Avon, and Shipston on Stour and Moreton in Marsh in the
Cotswolds. It is one of the largest providers of legal advice in
the Midlands and ranks within the top 100 law firms in the UK.