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Travers Smith advises on recommended cash offer for Harvey Nash Group plc

Sunday, 23 September 2018
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Friday, 10 August 2018

Travers Smith LLP has advised Harvey Nash Group plc ("Harvey Nash") on its proposed acquisition pursuant to a recommended cash offer by The Power of Talent Ltd, an entity owned by funds managed by DBAY Advisors Limited.

The acquisition, which is expected to be effected via a scheme of arrangement, values Harvey Nash at approximately £99 million and is subject to Harvey Nash shareholder approval and Court sanction of the scheme. It is expected to close in Q4 of 2018.

Harvey Nash are leaders in professional recruitment, with over 250 expert consultants across the UK & Ireland. They support organisations in more than 30 countries recruiting highly experienced experts on a permanent and contract basis in Technology, Digital, Finance & Banking and HR.

Harvey Nash is a long-standing client, whom Travers Smith have advised since advising Harvey Nash on its IPO on the London Stock Exchange in 1997.

The Travers Smith team was led by Corporate Finance Partner Andrew Gillen and also included Corporate Finance Senior Associates Andrew Gofton-Salmond and Amy Ruprai. Advice relating to executive and employee share plans was provided by Head of Incentives and Remuneration Mahesh Varia.

Financial advice to Harvey Nash was provided by Rothschild and Panmure Gordon. Financial advice to the bidder was provided by Deloitte and legal advice to the bidder was provided by Addleshaw Goddard.

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