Cafe Bidco Limited’s £71.6 Million Oakeover of Proactis Holdings plc

In UK Hogan Lovells, Slaughter and May, Walker Morris, advised on the matter.

Hogan Lovells advised Houlihan Lokey Capital, Inc. with a team including Daniel Simons (Picture – Equity Capital Markets).

Slaughter and May advised Café Bidco Limited with a team including Harry Bacon (Equity Capital Markets), Duncan Blaikie (IP&IT), Paul Dickson (Equity Capital Markets), Phil Linnard (Human Capital), Guy O’Keefe (Finance), Dominic Robertson (Tax M&A and Deal Advisory), William Turtle (Competition Law).

Walker Morris advised Proactis Holdings PLC with a team including Richard Naish (Corporate M&A).

Proactis is an international business spend management solution provider admitted to trading on AIM and operates with a mark-facing presence in the UK, the US, France, Germany and the Netherlands.  Proactis enables digital trade by helping organisations around the world to control 100 per cent. of their spend.  Its solutions are used in approximately 1,100 buying organisations around the world, with over three million users who Proactis believe have over two million supplier relationships, in over 100 countries across the commercial, public and not-for-profit sectors.  In the financial year ended 31 July 2020, the business generated £49.6 million of revenue.

It is intended that the acquisition of Proactis will be implemented by way of a scheme of arrangement, however, Pollen Street have reserved the right to elect to implement the acquisition by way of an offer as an alternative to the scheme (subject to the Panel’s consent and the terms of the co-operation agreement). 

The Hogan Lovells team was led by London-based corporate partner Daniel Simons (Picture) alongside corporate counsel John Holme and associate Claire Macpherson.

Slaughter and May’s team inlcuded Paul Dickson, Partner, Harry Bacon, Partner, Hemita Sumanasuriya, Associate, Amandeep Bains, Associate, Sophie Winton, Associate, Guy O’Keefe Partner, Alex Peters, Associate, Phil Linnard, Partner, Adrien Mallevays, Associate, Dominic Robertson, Partner, Amy Motherwell, Associate, Duncan Blaikie, Partner, Gabrielle Ohlsen, Associate, William Turtle, Partner and Vera Vollmann, Associate.

Walker Morris is fielding a team led by corporate partner Richard Naish and which includes Laura Cavell, Rebecca O’Keefe and Micha Hatfield (all corporate) and Nicola Parkinson (tax/share schemes).

 

Involved fees earner: John Holme – Hogan Lovells; Claire Macpherson – Hogan Lovells; Daniel Simons – Hogan Lovells; Harry Bacon – Slaughter and May; Amandeep Bains – Slaughter and May; Duncan Blaikie – Slaughter and May; Paul Dickson – Slaughter and May; Phil Linnard – Slaughter and May; Adrien Mallevays – Slaughter and May; Amy Motherwell – Slaughter and May; Guy O’Keefe – Slaughter and May; Gabrielle Ohlsen – Slaughter and May; Alex Peters – Slaughter and May; Dominic Robertson – Slaughter and May; Hemita Sumanasuriya – Slaughter and May; William Turtle – Slaughter and May; Vera Vollmann – Slaughter and May; Sophie Winton – Slaughter and May; Laura Cavell – Walker Morris; Micha Hatfield – Walker Morris; Rebecca Keefe – Walker Morris; Richard Naish – Walker Morris; Nicola Parkinson – Walker Morris;

Law Firms: Hogan Lovells; Slaughter and May; Walker Morris;

Clients: Café Bidco Limited; Houlihan Lokey Capital, Inc.; Proactis Holdings PLC ;

Author: Giulia Di Palma