Wragge & Co Private Equity team advises NVM on telecomms MBO
Wragge & Co LLP Private Equity team has advised NVM Private Equity Limited (NVM) on its £5 million investment in the management buy-out of Optilan Ltd. Additional bank funding was provided by Allied Irish Bank and GE Capital.
Optilan, a telecommunications network provider, operates in the growth markets of oil and gas, transport, power and utilities. NVM has backed Richard Buckland, Chief Executive Officer of Optilan, to lead the MBO.
Private Equity partner Ian Piggin and corporate director Catherine Clarke led a team including tax partners Neil Pearson and Kevin Lowe. Chris Gayle advised on banking and Rhian Vandrill acted on legal due diligence. The cross-firm team worked closely with James Arrowsmith at NVM.
Ian Piggin said: "Our relationship with NVM goes from strength to strength. With significant expertise and experience in cross-firm mid-market transactions, we were able to provide the resource, commitment and commercial application required to deliver on this instruction."
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 has previously advised NVM on the MBO of defence company Product Support Ltd, where NVM provided £7 million in funding.
Optilan is a telecommunications systems integrator, providing communication systems from design through to site commissioning and support. Based in Coventry, Optilan has regional offices in Russia and the Middle East. The company's US subsidiary, Optilan Inc, operates out of Houston, USA. Cobbetts LLP and BTG McInnes advised Optilan.
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.
For further information about this press release, contact Kathryn Hobbs on +44 (0)121 685 2785, Rebecca Davies on +44 (0)121 685 3819 or Gayle Redding on +44 (0)121 685 2708
This press release may contain information of general interest about current legal issues, but does not give legal advice.