Burges Salmon advises ECI on 'dragon' deal

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01 September 2011

A team of lawyers from Burges Salmon have advised long-standing private equity client, ECI Partners, on a deal involving Dragon’s Den’s Peter Jones CBE.

ECI and management have paid £35m for the entrepreneur’s Machine to Machine (M2M) communications company, Wireless Logic. The business attracted considerable private equity interest and resulted in a competitive process with the transaction completing over an accelerated timescale.

Corporate finance partner, Richard Spink, says: “This was a demanding but exciting process which reflects the interest in top quality businesses like this despite the current market.

“We were able to field an extensive team from across the firm to work with ECI, including specialists from corporate finance, commercial, employment, tax, banking and real estate, to meet the timing demands of the deal. We have worked with ECI for more than a decade, so it has been highly rewarding to support them in securing this one.”

This is one of three private equity deals the firm has facilitated in recent weeks. Richard Spink was joined by Burges Salmon colleagues from across the firm including senior associates Claire Porter-Bryant, Jennifer Myram, Martin Cuell and others on the deal.

ECI is one of the longest established private equity groups in the UK, with total committed capital of more than £1.1 billion. Chris Warren, director of ECI, commented: “The possible applications for M2M technology are virtually limitless and we are extremely excited by the potential of Wireless Logic in this rapidly growing market. We are looking forward to working with the management team and assisting the company in its continuing expansion and market development.”

Please visit the Private Equity page for more information on Burges Salmon’s experience in the corporate finance market.

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