Corporate Focus - June 2010

Here’s Tay Bibby!

Ian Vicary and Chantel Clague of Weightmans Corporate team and Matt Williamson of the Commercial Property team advised Bibby Distribution Limited in their purchase of £23m turnover Taygroup (UK) Holdings Limited.  Iain Speak, Bibby Distribution’s chief executive officer, said:

“Taygroup is a vibrant and dynamic business with a real focus on delivering excellent service to its customers.

“The acquisition strengthens our overall service offering in a number of key areas and enables efficiencies that will enhance our ability to provide the market with flexible, competitive solutions.

“I am particularly pleased to welcome our new colleagues to Bibby Distribution and look forward to working with them to continue their success under our stewardship.”

Bibby Distribution Limited reported a turnover of £180m in its most recent published accounts for 2008 and following the acquisition, the company has grown to 62 sites.

Game On!

John Schorah headed a 4 man team in completing a deal between Weightmans corporate client and games developer Media Molecule, and Sony Computer Entertainment Europe Limited. The deal was a disposal of the entire share capital of Media Molecule.

This was the second deal of its type working in partnership with Baker Tilly. Colin Abrahams of Baker Tilly praised the success of the transaction and Weightmans' approach. He said:

“We were delighted to play our part in successfully completing this transaction. Media Molecule is undoubtedly one of the great success stories within the UK computer games Industry. Working alongside John Schorah and the team from Weightmans, with their niche expertise in the sector, was a definite plus."

House!

In a deal worth just over £217m, Philip Heath, Laura Kearsley and Sonia Hanji advised Gwynedd Council in its transfer of council housing stock to purchaser Cartrefi Cymunedol Gwynedd Cyfyngedig.  In total, a staggering 6304 houses were transferred in the deal which was completed in April.