Mills & Reeve advises Trafficmaster plc executive team on takeover by Vector Capital

The Birmingham office of national law firm Mills & Reeve has advised Trafficmaster plc’s executive team on the takeover of Trafficmaster by Vector Capital Limited. The offer valued the intelligent driving and satnav business at approximately £73.3 million.

Mills & Reeve was appointed to Cirencester-based Trafficmaster plc’s panel of legal advisers in 2009 after a competitive tender involving other leading national law firms.

Trafficmaster’s executive directors approached Mills & Reeve during the course of their negotiations with Vector Capital with a view to obtaining strategic and focused legal advice in relation to a number of different issues. The team helped the directors navigate through their own negotiations with Vector Capital whilst ensuring that the overall transaction was kept on track.

The Mills & Reeve team was led by corporate finance partner Julian Smith and corporate finance associate Stephen Hamilton. Andrew Secker provided employment advice and Deborah Clark assisted in relation to share incentives and private tax issues.

Julian Smith said: “It was a pleasure to help Trafficmaster’s executive directors at what was a very important time for them. The executive team at Trafficmaster is clearly critical to Trafficmaster’s continued success and we wish them well in relation to the next chapter in Trafficmaster’s life.”

As well as Mills & Reeve (who advised Trafficmaster’s executive directors), Canaccord Genuity Limited acted as financial adviser to Trafficmaster plc, Pinsent Masons acted for Trafficmaster plc, Panmure Gordon acted as financial adviser to Vector Capital and Shearman & Sterling acted as legal adviser to Vector Capital.

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