International law firm Simmons & Simmons has advised Regent Acquisitions on a deal to acquire London-listed building services contractor TClarke plc in a take private deal governed by the Takeover Code.
The £91m acquisition by Regent, which is subject to shareholder and regulatory approval, will see the company take control of TClarke for 160p per share. Regent currently owns around 21.5 per cent of TClarke shares.
Regent Acquisitions are part of the Regent Group, a leading supplier of gas and metering services to industrial and commercial customers in the UK across multiple sectors.
Sean Geraghty, partner in Simmons’ UK corporate practice, led the deal – supported by associates Holly Vaudry and Ed Robson. Additional advice was provided by employment partner Tair Hussain on share incentives, and competition partner Mark Jephcott on anti-trust.
Commenting on the transaction, Sean Geraghty said: “Our team is very pleased to have been able to offer our leading M&A expertise to advise Regent on this high-profile transaction. It has been rewarding to support the client on a deal that is of such great strategic importance to its business.”
Commenting on Simmons’ role in the acquisition, Deep Valecha, CEO of Regent, said:, "It was a pleasure working with the Simmons team on this transaction. Their expertise in public M&A and long experience of Takeover Code transactions were a huge help on the deal. In addition, the team was proactive, commercial and great to work with”.
