Kilpatrick Stockton announced today that the firm recently advised a new management buy-in team, Codate Lighting Holdings Limited, on its £6.1 million acquisition of the entire issued share capital of Chadmere Limited, a holding company of Iluma Lighting Limited — the lighting design, distribution and manufacturing company.
Under the agreement, an initial consideration of £6.1 million was payable and further consideration may be due calculated pursuant to a completion net asset valuation and multiple of turnover in the following year after completion. Funding for the deal was provided by Singer & Friedlander.
“The speed with which we completed this acquisition and achieved the client’s goals is a testament to the great effort, tremendous talent, and cooperation of the entire team involved — not only Kilpatrick Stockton attorneys but also the clients other advisers,” said Jon Lovitt, Kilpatrick Stockton Partner, Corporate Practice Group.
Jon Lovitt led Kilpatrick Stockton team of Karl Huckle, Dean Harper, Vishvas Kanji, Suzzane Cummings and Sukhi Walia in advising Codate.