International law firm Gowling WLG, formerly Wragge
Lawrence Graham & Co, has advised AIM-quoted Mercia
Technologies PLC (Mercia) on its £11 million acquisition of
Enterprise Ventures Group Ltd (Enterprise Ventures).
Mercia is a technology-focused investment company which has
developed its hybrid investment model to help fund, support and
create value from some of the UK's most innovative technology
ventures. Enterprise Ventures is a leading provider of early stage
and growth finance through £200 million of third party
managed funds in the North of England.
Mark Payton, Chief Executive Officer of Mercia, commented:
"We've worked with Kris and the team at Gowling WLG for
some time now. They consistently provide top-quality legal advice
which is commercially-focused and in tune with our business and the
markets in which we operate."
Kristian Rogers added: "This latest acquisition
significantly accelerates Mercia's aim to become a leading
national technology investment business and expands the funnel of
future direct investment prospects across Mercia's key
technology sectors. We're looking forward to continuing our
work together and to contributing to the growth of tech enterprises
across the UK.
"We've also recently launched our
'Make way for the middle: The future shape of the UK
economy' white paper, which reveals that a remarkable shift
in the dynamic of the UK economy is taking place, creating a period
of exciting opportunity for mid-market companies. It was fantastic
to work with Mark Payton and Mercia on this and receive Mark's
valuable insights into where economic growth will come
As Mark explained in the white paper: "This is a very
exciting time for small and medium businesses in the UK. This is
particularly true for the technology sector and we are seeing
innovative companies across the country capitalising on these
Tech team uses in-depth sector experience to help clients make
the most of developments in this dynamic sector, maximise their
growth, and protect and monetise their assets. The firm also
consistently features at the top of ARL's AIM Advisers Rankings
Guide, and is recognised for its leading position in the AIM
market, acting for nominated advisers (nomads) and AIM companies
Chambers UK 2015 describes the
Capital Markets team as a: "Leading presence for companies
and NOMADs involved in complex ECM transactions. Acts for a wide
range of domestic and international clients, with a noted
specialism in advising clients in the technology sector."
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An assignment of rights under a contract is normally restricted to the benefit of the contract. Where a party wishes to transfer both the benefit and burden of the contract this generally needs to be done by way of a novation.
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