PDT Corporate Team acts on Sale of AIM Listed Technology Company

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PDT Corporate Team acts on Sale of AIM Listed Technology Company

Published: 10 July 2019

The Corporate Team at PDT has recently completed the sale of EU Supply Plc to Mercell Holding AS for a cash consideration of over £15m.

"Andrew and the team at PDT have been fantastic in supporting us throughout this transaction. Andrew’s calm manner and commercial guidance have been hugely important in seeing us through to a successful conclusion"

Thomas Beergrehn , CEO, UK Supply

EU Supply Plc is an e-commerce business which has a market-leading, multilingual e-procurement platform for e-sourcing, e-tendering and contract management. It has been acquired by Norwegian company Mercell Holding AS which is also a provider of e-tendering Software as a Service solutions.

 

The price per share of 18.25p valued the business at around £15.6m and was a premium of over 80% on the average share price in the 6 months prior to the announcement of the proposed deal. The deal was structured as a Scheme of Arrangement and was sanctioned at a court hearing on 9th July and became effective on the 10th July.

 

Corporate Partner Andrew Hoad led the PDT team acting for EU Supply Plc. Andrew has acted for the Company since 2013 and acted for them when they were first admitted to AIM. Andrew was assisted on the transaction by Rosie Haines (Corporate Associate) and Justin McConville (Litigation Associate).  

 

Commenting on the transaction Andrew said “It has been fantastic to act on this matter, having been there at the start of EU Supply’s listed journey, when I advised on the Admission of the Company to trading on AIM, it is very satisfying to have acted for the Company right through to the end of that journey by acting on their sale as well. I am confident that the Company will go from strength to strength under the ownership of Mercell.”

The content of this webpage is for information only and is not intended to be construed as legal advice and should not be treated as a substitute for specific advice. PDT Solicitors LLP accepts no responsibility for the content of any third party website to which this webpage refers.

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