Advent International to Acquire Laird for £1 billion
London – Paul Hastings LLP, a leading global law firm, announced today that it has acted for Goldman Sachs and Citigroup as arrangers in respect of the financing for the recommended public-to-private acquisition by Advent International of Laird PLC for approximately £1 billion. AI Ladder Limited ("Bidco") (a wholly-owned indirect subsidiary of funds managed by Advent International Corporation) and UK electronics and technology business Laird reached agreement on the terms of a recommended cash acquisition of the entire issued and to be issued ordinary share capital of Laird by Bidco.
The Acquisition is to be effected by means of a scheme of arrangement under Part 26 of the Companies Act. The Acquisition values the entire issued ordinary share capital of Laird at approximately £1 billion on a fully diluted basis.
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