TLT has advised leading mid-market private equity firm LDC on the multi-million pound sale of its stake in the UK's leading average speed enforcement business Vysionics to JENOPTIK AG a Frankfurt Stock Exchange listed optoelectronics business.
Alistair Pendleton, Investment Director and Head of LDC in the South West said:
"The TLT team were focused on helping us to deliver the sale to a tight timescale. They were flexible and responsive in their approach, making sure to deliver their legal advice in the context of what we wanted to achieve."
Bruce Brain, Chairman of Vysionics said:
"It was a pleasure to work with the team at TLT, who showed they had the right skills but also the right approach throughout the transaction."
Andrew Webber, corporate partner at TLT commented:
"LDC is one of the UK's most active private equity investors and supporting them for the first time on a transaction of this size is important recognition of TLT's expertise, resource and growing reputation in the market."
Corporate partners Andrew Webber and Jon Gill and solicitor Jack Wolton led the TLT team advising LDC and the management team at Vysionics, with tax partner Nathan Williams, employment partner Ed Cotton and real estate associate Ed Pitt also advising. CMS Cameron McKenna London advised JENOPTIK AG.
Headquartered in Frimley in Surrey, Vysionics provides automatic number plate recognition ("ANPR") traffic enforcement, access management and information systems to a wide range of private and public sector organisations both here in the UK and overseas. Vysionics has enjoyed a particularly strong period of growth within the last year, increasing annual turnover from £9.3 million in 2013 to £16.0 million in 2014.
As a global leading business with an extensive international footprint, JENOPTIK has annual sales of around €600 million and is headquartered in Germany. Its specialist division, JENOPTIK Traffic Solutions, operates more than 20,000 traffic enforcement systems in over 80 countries and provides a strong strategic fit with Vysionics in terms of products, services and market footprint.