Southampton lawyers advise management on £43 million sale of UK outsourcer Liberata to Japanese company OUTSOURCING Inc.
3rd August 2016
Moore Blatch has advised the management team on the £43 million sale of one of the UK’s largest outsourcing companies Liberata, employing 1,424 staff, to Japanese listed outsourcer, OUTSOURCING Inc. The transaction being completed in just 5 weeks from the signing of heads of agreement to completion.
The sale comes just eight weeks after Moore Blatch advised management on the £57 million sale of Liberata subsidiary Trustmarque Solutions Ltd, which employs 620 people, to UK outsourcer Capita Plc.
Commenting on the deal Peter Jeffery, partner, Moore Blatch, said: “In the last two months we have completed deals worth over £100 million in this sector alone, dispelling the myth that large transactions are the sole preserve of London only firms. Transactions involving outsourcing organisations are by their nature very complex, as while a sale may be for a single entity, the operating divisions are often very unique businesses in their own right. This issue is further complicated when the purchaser is located, or in OUTSOURCING Inc case, listed overseas.”
Martin Trainer, chief financial officer of the Liberata group, comments: “Peter’s team has supported us in both the recent sale of Trustmarque and now of Liberata itself. These were both highly complex transactions with Capita and OUTSOURCING Inc. both being buyers with extremely exacting requirements. On both occasions the team at Moore Blatch has delivered not only the prerequisite legal knowledge, but more importantly they have done it in a way that demonstrates their passion for going that extra mile.”