Edinburgh—Dentons has advised Law Debenture Corporate Services Limited, a wholly owned subsidiary of The Law Debenture Corporation plc , on its binding agreement to acquire the company secretarial unit of Konexo UK, a division of Eversheds Sutherland International LLP.

The Acquisition consists of the company secretarial business and assets. The total consideration for the Acquisition is £20 million, payable in cash.

Under the terms of the Acquisition agreement, Law Debenture has agreed to acquire the business on a cash and debt free basis. For the financial year ended 30 April 2020, CSS recorded revenues of £6.2m, estimated EBITDA of £2.2m.  Completion of the Acquisition is expected by the end of January 2021.

Established for 15 years, CSS is a respected part of the Konexo business with UK and international sector expertise. The transferring team has 55 employees, with 15 based in London, 1 in Hong Kong and the remainder in Manchester. The business services a client base of 480 in more than 100 jurisdictions.

Kelly Stobbs, General Counsel at The Law Debenture Corporation plc, said, "It was a pleasure to work with Dentons on this strategic transaction. Their expertise and commitment really supported the success of the transaction."

Claire Armstrong, partner in Dentons' UK Corporate team, said, "We’re very pleased to have acted for The Law Debenture Corporation plc on the execution of their IPS' strategy and look forward to working with them on their continued growth."

The Dentons team, which was led by Corporate partner Claire Armstrong and Corporate Senior Associate Adam Knowles, included Corporate Associate Gillian Cole, PRM Partner Alison Weatherhead, PRM Associate Emily Shaw, Banking & Finance Partner James Wilson, TMT Senior Associate Julie Brown, TMT Associate Muneeb Gill, Real Estate Associate Calum McKenzie, Real Estate Counsel Jo Campbell-Smith, Assistant General Counsel Kate Poppitt, General Counsel Andrew Cheung and others.

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