Wragge & Co LLP Private Equity team has advised the shareholders of Product Support Holdings Limited (PSHL), including NVM Private Equity, on the £30 million sale of PSHL to Wincanton.

The acquisition will allow London Stock Exchanged-listed Wincanton, a European provider of supply chain solutions, to extend its services in the UK and mainland Europe. NVM backed the original buyout of defence specialist PSHL in December 2006.

Private Equity partner Ian Piggin led a cross-firm team comprising associate Natalie Singh and solicitors Louise Baillie and Sarah Woolf. Partner Kevin Lowe advised on tax issues, associate Anne Colley advised on real estate matters and Mike Collins and Liz Wood advised on pensions. The team worked closely with the shareholders, including Andrew Sheppard of PSHL and NVM investment manger Peter Hodson.

Ian Piggin said: "This exit represents an excellent return on investment for NVM. Over the years we have consolidated our position as a trusted adviser to NVM, based on our mid-market expertise and commercial advice. We advised on the original buyout and will continue to support NVM on future investments."

Peter Hodson said: "Having worked with the Wragge & Co team before we knew to expect excellent advice, sensible commercial ideas and great client service. The team did a first-class job in completing this transaction and helping us secure a good return on our initial investment."

Andrew Sheppard said: "The Wragge & Co team worked extremely hard to ensure that the shareholders gained full understanding of all the deal issues and ultimately helped to negotiate maximum protection for shareholders. The depth of knowledge and guidance provided by Ian and the team gave the shareholders confidence to complete the deal."

NVM Private Equity Limited is an independently owned firm of venture capital managers investing in UK businesses. It manages five investment funds, with funds under management exceeding £190 million. It is focused on making equity investments of between £2 million and £10 million in UK unquoted companies. Wragge & Co previously advised NVM on the original PSHL buyout and the MBO of telecoms business Optilan Limited.

PSHL is one of the UK's leading suppliers of logistics services to the defence industry. Its clients include the Ministry of Defence, BAE Systems, AgustaWestland, Thales and Honeywell. With 20 sites across the UK and two in Europe, it employs more than 400 people.

Wincanton is a provider of supply chain solutions. With 30,000 people operating across Europe, it boasts an annual turnover of more than £2.1 billion. Wincanton acquired PSHL for £27 million, with an additional £3 million pounds payable subject to PSHL's financial performance in the period to March 31, 2009. Osborne Clarke provided legal advice.

Wragge & Co's 18-lawyer Private Equity team advises private equity and venture capital investors on a broad range of acquisitions, investments, disposals and secondary buy-outs in the mid-market. Notable examples include advising Lloyds Development Capital on its ground-breaking £40 million investment in GVA Grimley and acting for Octopus Investments on the acquisition of restaurant group Smollenskys. Clients include many key players in private equity and venture capital including 3i Group, Electra Kingsway and Isis Equity Partners.

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For further information about this press release, contact Kathryn Hobbs on +44 (0)121 213 2397, Alexa Highfield on +44 (0)121 213 2396 or Amie Ryalls on +44 (0)121 213 2360

This press release may contain information of general interest about current legal issues, but does not give legal advice.