We are advising longstanding client Inspired plc on the recently-announced recommended takeover offer by Intrepid Bidco Limited, a newly-formed company indirectly owned by funds managed and/ or advised by HGGC LLC and its affiliates.
The offer values Inspired’s issued and to be issued ordinary share capital at approximately £183.6m, with an offer price of 81 pence per share.
Lancashire-headquartered Inspired plc delivers technology-enabled solutions to businesses, including data management, procurement services, optimisation of energy consumption and intelligent ESG strategies to facilitate their customers’ transition to net-zero and to help manage their response to climate change.
California-based HGGC LLC is an investment firm, investing in technology, business services, financial services and consumer enterprises valued at over $200m.
Our corporate team on the transaction is led by partners Paul Jefferson, Paul Cliff and Sam Meiklejohn, supported by senior associate Darryl Chew, associate Hannah Hogarth and solicitors Zhuo Li and Paige Richardson.
Ashurst LLP is also advising Inspired, as co-counsel on the takeover.
Paul Jefferson commented: “The relationship with Inspired is a longstanding one, dating back to its own IPO. We are proud to be advising the company in this latest chapter and remain keenly focused on striving to achieve the best outcome for the company and its stakeholders.”