International legal practice Osborne Clarke has advised Ultra Electronics on the sale of its Airport Systems Business to ADB SAFEGATE for a total consideration of £22m, of which £2m is deferred.
The Airport Systems Business was transferred to a new holding company which will be transferred to ADB SAFEGATE along with the relevant Ultra subsidiaries in China, France, South Africa and the US once all closing conditions have been satisfied. The transaction is expected to complete by 31 January 2019.
Airport Systems provides specialised IT software solutions to improve the operational performance of airports and airlines. These solutions are installed in approximately 150 airports and are in-service with 100 airlines internationally.
The Osborne Clarke team was led by corporate Partner Conrad Davies and Senior Associate James Archer. Conrad and James were assisted by Associate Rebecca Eade, Paralegal Jay Eng and Trainee Solicitor Amy Moylett from the corporate team and Senior Associate Alistair Godwin and Partners Mathew Oliver and David Nisbet from the tax team.
Commercial advice was provided by Senior Associate Jaskirat Singh. The team were further assisted by Senior Associate Mark Lloyd from the disputes and risk team, Senior Associate Nick Haywood from the employment team and Senior Associate Eve Huchon and Partner Catherine Olive from Osborne Clarke in Paris.
Osborne Clarke is a recognised industry leader in aerospace and infrastructure providing a comprehensive sector-led service that provides critical legal support to companies at all levels in the supply chain. The team has a detailed understanding of the issues facing businesses in the sector and they work in partnership with clients, to deliver focused and cost-effective advice and support.