Wragge & Co completes first corporate deal for Northgate Information Solutions
04.07.07
Wragge & Co LLP Corporate Group has completed its first deal for FTSE 250 company Northgate Information Solutions plc.
Northgate, the UK's largest HR and payroll application supplier, has acquired Kendric Ash, a public sector change management consultancy. The acquisition is for a consideration which, depending on its performance over the next two years, will be in the region of £14 million.
Kendric Ash works closely with its clients in local government to improve their processes and performance, and has delivered more than £100 million in financial benefits to clients to date. The acquisition will help Northgate widen its service proposition in this fast-growing part of the market.
Corporate director Julian Smith led a Wragge & Co team comprising corporate associate Phil Graham, solicitor Marion Cail, tax partner Neil Pearson and tax solicitor Richard Freeman. Jayne Dexter and Hannah Swindle provided additional advice on commercial and employment issues. They worked alongside Northgate's group company secretary John Richardson and group financial controller Tim Coleman. Hammonds partner Tim Hewens advised the management of Kendric Ash.
Tim Coleman said: "This was the first time we have used Wragge & Co for acquisition work, and we are delighted with their performance. Julian Smith led a first-rate team who helped us overcome various complications with the structuring and timing of the deal. The advice and guidance we received throughout the process was of very high quality. We thoroughly enjoyed working alongside all the members of the Wragge & Co team as the deal progressed."
Julian Smith said: "This is our first corporate transaction for Northgate, one of a growing number of major listed companies choosing Wragge & Co for excellent legal advice and a first-rate client service. We enjoyed working with John, Tim and the rest of the Northgate team and look forward to doing so again."
Northgate Information Solutions plc is a market leader of software applications and outsourcing solutions to the public safety, local government, education and human resources sector. Headquartered in Hemel Hempstead, the company works closely with many corporate organisations and more than 50 per cent of the FTSE 100 companies.
Wragge & Co's national corporate practice consists of more than 60 lawyers advising on a full range of corporate finance matters. Wragge & Co has a strong reputation for advising UK listed companies. Highlights this year include UBC Media Group plc sale of its Classic Gold radio stations and a cross-border M&A deal for Spectris plc.
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 Michelle Dolphin on +44 (0)121 213 2369
This press release may contain information of general interest about current legal issues, but does not give legal advice.