TLT has advised the management team at M-Netics, an enterprise mobility solution provider, on its sale to Peak-Ryzex Plc, one of the largest enterprise mobility integrators head-quartered in North America.
M-Netics will now operate as a subsidiary of Peak-Ryzex, which is owned by Keystone Capital (Chicago, Il). The joining of these two companies makes them one of the market leaders in the UK.
M-Netics is a developer of the industry leading IM2 enterprise mobility software suite, which Peak-Ryzex will leverage to expand its customer offering including mobile applications for the operations of multi-channel retailers.
The TLT team was led by corporate partner Andrew Webber along with corporate solicitor Thomas Rees and included specialists from the firm’s Corporate, Employment, Tax, Pensions & Incentives; Real Estate, Commercial and Banking & Restructuring teams.
TLT’s Andrew Webber, corporate partner said: "We’re delighted to have worked with the management team at M-Netics on this strategic deal. It highlights the strength in the sector of their existing offering and will create important growth opportunities for the business in the UK and North America markets, enabling the team to play an important part in the continued growth of the merged group."
John Coon, Managing Director, M-Netics said: "It’s an exciting time for M-Netics and Peak-Ryzex. The union of our two companies means that we will have a larger geographic presence with new capabilities to expand our combined portfolio of solutions and services. Throughout the process we worked closely with TLT, who consistently gave us excellent commercial advice on all aspects of preparing for and executing the deal."
Tim Hamilton-Davies, Chairman, M-Netics said: "Working shoulder-to-shoulder with TLT was invaluable to the process as they understand the sector we and our clients work in and supported the management team from start to finish, delivering first-class results. By joining forces with Peak-Ryzex, we are now part of one of the largest, most dynamic international mobile solutions providers in the market today; a fantastic outcome for M-Netics."
This deal builds on a busy year to date for TLT’s Corporate team nationally. Within the last three months the team has advised Smart Transactions Group Limited on the multimillion pound sale of its subsidiary, Applied Card Technology Limited, a leading UK smart travel ticketing provider, to Fujitsu. They also recently advised Intercity Technology, the national communications technology specialist, on its acquisition of Imerja, an IT services provider.