Fladgate LLP has advised the private equity firm Privet Capital on the acquisition of the entire issued share capital of Cash Processing Solutions Limited (CPS) and related subsidiaries from De La Rue plc for a maximum pay-out of £6.5m. Fladgate also advised in relation to the ongoing strategic partnership between the two parties.
CPS is one of the market leaders providing cash processing hardware, software and associated services used in banknote processing to manage banknote production, cash in circulation and the maintenance of banknote authenticity, condition and fitness.
Fladgate corporate partner Graham Spitz advised Privet Capital with assistance from partners Eddie Powell (ICT), Alan Wetterhahn (ICT), Hamilton Forrest (Tax) and senior associate Melissa Needham (corporate).
Commenting on the transaction, Graham Spitz said: “We were delighted to be working again with Steve Keating and the Privet team; our third instruction in the last 9 months for them following the acquisitions of Aeromet and Pyser last year.”