SLMR has made an offer of £326m on an Enterprise Value basis and the transaction remains subject to certain legal and other conditions and to regulatory and other approvals.

Additionally Macfarlanes has advised Better Capital’s BECAP12 Fund LP on the intra group restructuring of CAV Aerospace Limited (“CAV”) to Northern Aerospace Limited, a special purpose vehicle within the same group. 

The restructuring was facilitated through a pre-packaged administration and the transaction has enabled the continuation of CAV's trade and has protected the employment of the group's workforce, of approximately 550 people across four UK and two Polish sites.

Both Macfarlanes teams involved in these matters were led by corporate M&A partner Simon Perry, alongside corporate M&A senior solicitor Adam Campbell on the proposed sale of Gardner. Senior counsel and head of insolvency Simon Beale, banking and finance solicitor Giles Butcher, corporate M&A solicitor Julian Grant, competition partner Malcolm Walton and commercial senior solicitor Will Hedges also advised on the restructuring of CAV.