Macfarlanes is advising Inspecs, an AIM-traded leading provider of eyewear solutions to the global eyewear market, on a competitive takeover process.
Inspecs and the bidding consortium announced earlier today that they had reached agreement on the terms of a recommended cash acquisition of Inspecs, with an unlisted securities alternative. The consortium acquisition vehicle is owned by well-known entrepreneur and investor, Luke Johnson, and property investor and former Chairman of the Optika Clulow retail chain, Ian Livingstone.
Inspecs previously announced that it was in discussions with three separate bidders following unsolicited approaches.
The transaction is being led by corporate M&A partner Harry Coghill, with assistance from senior counsel Mark Slade and associate Rhian Edwards. Competition advice was provided by partner Malcolm Walton, senior associate Matthew Jones, and associate Uwen Yap. Share incentives input was provided by partner Rasmus Berglund and associate Clio Pialorsi. Tax advice was provided by partner Jeremy Moncrieff and senior associate Bezhan Salehy. Macfarlanes is working closely on the transaction with Inspecs' Transaction Committee, comprising Christopher Hancock and Shaun Smith.
Commenting on the transaction, Harry Coghill said, "Having advised Inspecs on its IPO and for its entire life as a listed company, we are delighted to be advising on this transaction, which results in a positive outcome for all stakeholders, including customers, employees and shareholders."