Our Capital Markets team has advised PipeHawk Plc on its entry into a binding, conditional sale and purchase agreement with Hong Kong-incorporated Leidi Global Supply Limited for the proposed disposal of the entire issued share capital of Utsi Electronics Limited for a cash consideration of £1 million.

The consideration includes a £25,000 deposit, non‑refundable save for the National Security and Investment Act 2021 (NSI Act) condition, with the balance payable on completion.

Proceeds will support PipeHawk's working capital, with operations post‑completion concentrated on Thomson Engineering Design Limited and Adien Limited.

Completion is subject to customary conditions, including satisfaction of the NSI Act, and the long‑stop date is 28 February 2026.

Gowling WLG has advised PipeHawk since its float on AIM in 2000. The team advising on this transaction was led by Partner Hugh Maule with support from Solicitor Apprentice Yasmin Samaroo.

Gordon Watt, Executive Chairman at PipeHawk said: "As ever Gowling WLG have advised PipeHawk in a sensible and professionally pragmatic way to enable the company to achieve its desired end goal efficiently and on time."

Gowling WLG's Capital Markets team is recognised as one of the leading practices in London. With wide ranging experience, the team acts for both companies and investment banks on IPOs, secondary fundraisings and public takeovers, as well as advising on ongoing compliance and corporate governance issues.