Gateley Plc’s Corporate Recovery team has delivered an important victory for Angelmist Properties Limited (in liquidation) and its liquidators Ian Richardson and Kevin Hellard of Grant Thornton UK LLP, securing a finding of negligence and an interim payment award of £12.15 million against Angelmist’s former directors.
Gateley Plc advised private equity investors LDC on their backing of the MBO of Giacom World Networks Limited, which completed this week.
Founded in 1999, Giacom World Networks provides cloud IT and communications solutions for businesses across the UK and the company currently supports more than 3,500 business clients, including IT consultants and resellers.
The deal was led by Corporate partner Paul Jefferson, who led a team in Gateley’s Manchester office, which included senior associate Stephen Roberts, solicitor Katie Porter and Banking partner, Richard Sealy.
Commenting on the deal Paul Jefferson said: “The closing of this transaction represents another success in the longstanding working relationship our private equity team enjoys with LDC. We are delighted to have helped deliver this result and we wish both LDC and the management team at Giacom every success in the future as they continue to grow the business”.