Fladgate LLP acted for AIM listed client LiteBulb Group Limited on the acquisition of Concept Merchandise Limited.
Concept designs, develops and manufactures stationery and party products for the retail market, a new product category for LiteBulb.
LiteBulb acquired the entire issued share capital of Concept for an initial consideration of £4.75m cash and £0.25m in ordinary shares, plus a possible further £2.0m subject to performance conditions.
Contemporaneously LiteBulb raised capital to fund the acquisition by the issue of £3.5 million secured, convertible loan notes which are listed on the Channel Islands Securities Exchange.
Fladgate corporate partner David Robinson advised on both transactions with assistance from commercial partner Eddie Powell, tax partner Hamilton Forrest, real estate partner Nick Mumby, corporate associates Jamie Hamilton and Yulia Leyko and employment associate Sarah Sammons.