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Mavinwood plc - acquisition of Stapledon Holdings Limited
17 May 2007
Nabarro acted for Mavinwood plc (Mavinwood) in its acquisition of Stapledon Holdings Limited, the parent company of Document Control Services (DCS), for a total payment of up to £8.3 million (including the discharge of indebtedness and payment of contingent consideration). Debt funding for the acquisition was provided by Mavinwood's existing banking group of Allied Irish Banks, p.l.c. and Fortis Bank SA/NV. Mavinwood also issued a total of 5,405,405 ordinary shares to certain of the sellers.
DCS is a provider of scanning and indexing services to a range of customers primarily in the infrastructure, oil & gas and local government sectors. DCS is based in Peterborough and provides a national service. Following completion, the existing management of DCS will continue to run the business.
The transaction is the sixth in a series of acquisitions on which Nabarro have advised Mavinwood. The acquisition of a scanning and digitisation business complements Mavinwood’s existing document handling business as operated by Mavinwood subsidiaries Restore and Wansdyke.
The Nabarro team comprised: Iain Newman, James Archibald, Richard Bootle and Rose Sone (corporate), Barry Maytum and Jack Shepherd (banking) and Emma Tuppen (tax) with assistance from specialists in Nabarro's employment, pensions, property and IT groups. The sellers were advised by Over Taylor Biggs.
Iain Newman, Nabarro Corporate Partner, commented:
"We are delighted to have assisted Mavinwood on this latest acquisition. We have seen the company grow from strength to strength since its flotation on AIM in November 2004 and look forward to continuing our strong relationship in the future."
If you would like any further information or have any queries please contact:
Charlotte Tandy
Lanson Communications
020 7566 9706
charlottet@lansons.com
or
Iain Newman
Nabarro
020 7524 6423
i.newman@nabarro.com
