Birmingham law firm Clarke Wilmott has acted for a venture capitalist group to complete one of the largest deals in its history.
A total of 61 fee earners at the firm were involved in the deal to act for M3, a UK-based office and retail solutions company, in the purchase of The Extra Group from administration in an undisclosed six-figure deal.
The Extra Group comprises eight operational motorway service stations and a development site on the M25 at Cobham which, when completed in 2012, will be the largest motorway service station in Europe.
Andrew Beedham, corporate partner based at the Clarke Wilmott head office in Birmingham, said the deal was the firm’s largest private company transaction this year and had contributed to a strong start for the financial year.
He said: “It is the biggest corporate transaction that Clarke Wilmott has completed as far as we can remember. It was a mammoth effort and showed our capability across multidisciplines – banking and finance, corporate led by myself, property and insolvency because we bought the company out of administration from Lloyds bank.
“Like most firms we have had tough times but this is a great corporate deal to get away, particularly as we close the half year at the end of the month.
‘‘We have got a couple of good size deals we are working on, I do a lot of private equity work acting for venture capitalists and we are starting to see some interesting activity in the marketplace.”
Stephen Rosser, who succeeded David Sedgwick as chief executive of the firm in May, said: “I am very pleased with how the firm pulled together to ensure the transaction ran seamlessly; this project showcases the extraordinary talent at Clarke Willmott and the ability to work on large projects and compete with city firms”.