A round-up of deals involving Scottish law firms. Submit your deals to firstname.lastname@example.org.
- Harper Macleod advises Halfords on major acquisition in motoring services sector
Harper Macleod has advised Halfords on the acquisition of McConechy’s Tyre Service Limited, one of the largest independent garage chains in the UK.
The acquired business is made up of of 60 sites and 100 vans across Scotland and the north of England, providing tyre fitting and vehicle servicing, maintenance and repair for both retail and commercial vehicles.
James MacGregor, corporate partner at Harper Macleod who led the firm’s team advising on the deal, said: “We are delighted to have worked with Halfords on this strategic acquisition of a successful Scottish family owned business.
“It is encouraging to see transactions of this nature continuing to be successfully completed in the current climate and that our team continues to be involved in high-profile transactions involving recognised household names both buying and selling strong businesses.”
The Harper Macleod team also included corporate associate Rachel McNeill, with principal transactional support in real estate from partner Chris Noble, senior associate Paul Greenhill and senior solicitor Rory Paterson, and in banking from partner Tony Cameron.
- Burness Paull advises Dragon Oil on major Egyptian acquisition
Dragon Oil, a subsidiary of Emirates National Oil Company, was advised by Burness Paull in its acquisition of BP’s stake in The Gulf of Suez Petroleum Company (“GUPCO”).
GUPCO currently produces around 60,000 barrels of oil per day from 11 concessions, and Dragon Oil plans to increase production above 75,000 barrels of oil per day and to maintain production at that level during the next 10 years.
Bruce McLeod, Laura Fraser, David Smith and Anna Toye led the Burness Paull team which acted for Dragon Oil in the negotiations, supported by Egyptian counsel.
- MBM advises P D Neurotechnology on €1.3m funding for wearable medical tech
MBM Commercial advised P D Neurotechnology (PDN) on its 1.3m (EUR) funding for the development of its wearable medical technology.
PDN received 1.3m (EUR) in funding from investor Onassis Foundation. The funding will see the continued development of PDN’s wearable medical technology for continuous monitoring and treating of movement disorders which is anticipated to assist in the treatment of chronic diseases like Parkinson’s disease.
MBM’s Alexander Lamley, senior associate from the corporate team, advised PDN on the UK legal aspects of receiving the funding.
- MacRoberts helps secure £18 million investment for Together Energy
MacRoberts succeeded in delivering an £18 million investment for the emerging Scottish energy company, Together Energy.
MacRoberts, having advised the company from the outset, helped Together Energy build its plan and secure investment in one of the most competitive and crowded market places in the world.
The deal, which has been secured from Warrington Borough Council, will see the council take a 50 per cent shareholding in the business. The council was attracted to the Glasgow-based company due to its unique business model, which crucially offers opportunities to young disadvantaged people.
Under a new board of directors, the investment will secure 150 jobs in Clydebank as well as 30 immediate positions in Warrington.