Law firm leads acquisitions
Shepherd & Wedderburn pulls off trio of deals
The firm acted for Satellite Solutions Worldwide Group, an AIM-quoted Oxfordshire-based global communications company specialising in the provision of high-speed satellite and last-mile broadband solutions to remote locations.
The first deal, which catapulted Satellite Solutions into the top spot of Britain’s biggest satellite broadband providers, saw the company acquire the newly de-merged satellite division of Bristol-based, Avonline for £10m.
The transaction was funded by the Business Growth Fund (BGF).
The deal was followed by the purchase of the share capital of Norway’s leading satellite broadband provider Breiband.no AS and the simultaneous acquisition of the operations and assets of Skymesh Pty, an Australian company delivering satellite and fixed wireless broadband solutions to rural communities. The combined value of these acquisitions was £11.7m, financed by a share placing.
The Shepherd and Wedderburn team of corporate finance, telecoms and technology lawyers was led by corporate partner George Frier, who has worked with SSW’s CFO, Frank Waters since his time at McLaren Software.
Mr Waters said: “It was no small feat acquiring three significant businesses in three countries in just over three weeks, particularly in mid-summer.”
The Shepherd and Wedderburn team recently acted for the shareholders of TwoBigEars, the Edinburgh-based developer of interactive audio applications and tools for mobile devices, in its sale to Facebook. It also acted in the sale of Aircraft Medical to Covidien for $110m. Other clients in the sector include DeltaDNA, FanDuel, iomart, IndigoVision and TV Squared.
Active in 92 countries, Shepherd and Wedderburn’s growing level of international activity is supported by its membership of global professional services membership network, the World Services Group, which enabled the firm to quickly access local assistance from top-tier Norwegian law firm, Schjodt and Australian law firm, Maddocks.
Photo: George Frier (contributed)