Our Corporate team has completed its first M&A transaction for FTSE listed electronic components provider TT Electronics PLC ("TT") helping it acquire Ferranti Technologies Limited's defence sector power and control business.
The acquisition strengthens TT's UK aerospace and defence footprint, further enhances the capabilities of their power conversion and power management portfolio and helps create opportunities for supply chain streamlining and consolidation.
The transaction allowed us to showcase our defence sector M&A expertise, understanding of the new National Security & Investment Act 2021 ("NS&I") and navigate TT through some complex TUPE considerations.
The core legal team advising TT consisted of partner Ragi Singh, Christopher Letters and Rory Chatterton (all corporate), Susannah Fink (W&I insurance), Phil Clissitt (property), Jason Coates and Alison Kime (pensions), Rebecca Jones (TUPE), Bernardine Adkins and James Stunt (NS&I), Charlie Bond (IP) and Jocelyn Paulley (commercial).
Commenting on the team's role, Ian Buckley, Group Legal Counsel at TT Electronics PLC said:
"We were impressed with Gowling WLG's commercial approach, speed of response and depth of expertise, all of which proved critical in enabling our successful acquisition. Ragi Singh and his team became very much part of our team, partnering with us and providing the concise and commercially focused guidance we needed. We are very pleased with the result and are very grateful for Gowling WLG's support."