Our team: Ian Brent
Fladgate advised new client Opus, a £150m quoted Swedish company, on the acquisition of UK company Autologic Diagnostics, a world leader in advanced aftermarket automotive diagnostics. Opus is a world leader in managing vehicle inspection programs with operations in the US, Europe, Latin America and Asia. Autologic’s 2016 revenue was £16.5m with EBITDA of £2.6m. The purchase price was approximately £8m. Corporate partner Ian Brent led a team of eight, covering commercial, employment and intellectual property. Fladgate worked with Opus’ US attorneys, Ellis & Winters LLP, whose team was led by partner Kurt Dumaw.
Lothar Geilen, CEO of Opus, said “We were introduced to Fladgate by our US counsel. The timeline for the transaction was extremely demanding and we were delighted with the responsiveness and expertise shown by the Fladgate team.” Ian Brent, corporate partner at Fladgate, commented “We were pleased to help a prestigious client with this deal and that we could deliver in line with the timescales required. We wish Opus all the best with the acquisition.”
This is the second public company acquisition Ian Brent has completed in the last two weeks, following the acquisition by AIM listed recruitment company Hydrogen Group PLC of Argyll Scott, which completed on 2 June.