International law firm Gowling WLG 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.
Corporate partner Kristian Rogers led on the deal with a cross-firm team which included senior associate Mark Rowan and associate Laura Le Marechal in the Corporate team and partner Jon Lent and principal associate Gurinder Mann in the Banking team.
Partner Lee McBride and associate Charlotte Brady provided real estate advice, while tax support came from partner Mike Murphy and associate Rajiv Shah. Senior associate Sinan Alnajjar worked on employment issues and associate Ben Goldby advised on pensions. Health and safety principal associate Michael Hafen also advised.
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 from."
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 opportunities."
Gowling WLG's 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 alike.
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."