Law firm advises on TSG acquisition
17th April 2015
LAW firm Ward Hadaway has advised IT services company TSG on the acquisition of the trade and assets of Aegis IT out of administration.
Experts from Ward Hadaway’s insolvency and corporate recovery team provided legal advice to Newcastle-based TSG on the acquisition for an undisclosed sum.
All staff from Aegis IT have transferred to TSG following the deal, which was arranged by insolvency specialists Begbies Traynor and Quantum Corporate Finance.
Newcastle-based Aegis IT specialises in bespoke project work and ongoing support services with customers including security group G4S and Turner Broadcasting.
A team led by Ward Hadaway insolvency and corporate recovery Partner Jane Garvin, with support from IT Partner Judy Baker, provided legal advice to TSG on all aspects of the transaction, from the bidding process to completing the acquisition from the administrators.
Jane Garvin said: “We are delighted to have assisted TSG to complete this successful acquisition.
“As well as adding further to TSG’s strength in the IT services market, it also helps to safeguard the jobs of workers at Aegis IT and keep their skills in the region.”
Ward Hadaway’s Corporate team has advised long-standing client TSG on a series of previous acquisitions.
David Stonehouse, chief executive at TSG, said: “As a company, this was our first experience of buying trade and assets out of administration so it was great to be able to call on the expertise and experience of Ward Hadaway’s specialist insolvency and corporate recovery team.
“I really appreciated Jane and her team’s calm and pragmatic advice in these uncharted waters for TSG. Without such expertise on hand, this would have been a much more difficult acquisition to achieve.”