A cross firm team has advised H&T Group plc, the UK's largest pawnbroker and growing retailer of new and pre-owned jewellery and watches on its acquisition of watch servicing and repair centre, Swiss Time Services Limited.
H&T is paying a total consideration of £4.3 million for Swiss Time Services. The acquisition will be funded from the Group's existing funding facilities, which amount to £35 million.
The team from Gowling WLG was led by corporate partner Hugh Maule and associate Helena David with support from principal associates Elizabeth Emerson (tax), Angela Rawlins (banking and finance), Rebecca Jones (employment) and Elizabeth Napier (real estate), senior associate Sarina Mann (banking and finance) and trainee Tasha Cranmer-Brown (corporate).
Commenting on the deal, Hugh said: "It has been a pleasure to advise on such a strategic and earnings-enhancing acquisition that is certain help H&T grow its core market share and enhance its existing services significantly."
With offices across the UK, Europe, Canada, Asia, the Middle East, South Africa, Australia and South America – as well as an established network of professionals in South Africa, Australia and South America – Gowling WLG utilises its understanding of local markets to navigate issues across multiple jurisdictions. The firm's capital markets team has vast experience in fundraising ventures and acting for capital markets participants.