Freshfields advises Laird on its acquisition by AdventFreshfields Bruckhaus Deringer LLP (‘Freshfields’) has advised British technology and electronics business Laird plc (‘Laird’) on its acquisition by AI Ladder Limited, a wholly-owned indirect subsidiary of funds managed Advent International Corporation (‘Advent’). The acquisition values the shares of Laird at approximately £1bn on a fully diluted basis and represents a notable private equity acquisition of a public company.
Laird is a global leader in solving electromagnetic interference challenges and providing state-of-the-art wireless communication and smart system solutions, and Advent is one of the largest and most experienced global private equity investors. Prior to its acquisition, Freshfields also advised Laird on the completion of a £185m rights issue in April 2017, allowing Laird to continue executing its operating model re-design, which is delivering $20 million of cost savings.
The Freshfields team was led by global transactions partners Mark Austin and Piers Prichard Jones. Rod Carlton and Alice Greenwell led on antitrust and employment matters, respectively.
Commenting on the deal, Mark Austin said: “As digital transformation of business continues apace, Laird’s role as a leading innovator in technology supply across industries is only increasing. We were delighted to be able to assist them in this deal and look forward to seeing what is in store for the next phase of the business.”
This transaction marks Freshfields’ continued involvement in advising on market-leading technology deals. According to Mergermarket(1), the firm has advised on more high value technology deals in Europe (as ranked by deal value) in 2017 than any other firm.
(1) This ranking comes from Mergermarket’s Tech League Table LTM Europe [15 December 2016 – 15 December 2017]
Notes for editors
Freshfields Bruckhaus Deringer LLP is a global law firm with a long-standing track record of successfully supporting the world's leading national and multinational corporations, financial institutions and governments on ground-breaking and business-critical mandates. Our 2,800 plus lawyers deliver results worldwide through our own offices and alongside leading local firms. Our commitment, local and multi-national expertise and business know-how means our clients rely on us when it matters most.