Howard Kennedy has successfully advised Downing LLP on the disposal of the bulk of its venture capital trust business to Foresight Group, in a deal worth up to £17.8m.
This disposal will enable Downing to focus all of its ventures activities in the growing healthcare sector, where it has expertise and significant interest from investors.
To facilitate this strategic move, the company has exchanged contracts to sell its non-healthcare ventures investment business to Foresight Group Holdings Ltd. Downing will now concentrate all of its VCT and EIS activities in healthcare ventures.
Keith Lassman, Partner at Howard Kennedy, said: "Downing LLP has been a client of ours for over 25 years now and we were delighted to be able to support them in this transaction. It was a firmwide effort, with input from colleagues in the Tax, IP, M&A, Employment and Regulation teams. This cross-practice collaboration is something we excel at, and look forward to helping other clients achieve their strategic objectives."
Tony McGing, CEO of Downing LLP commented: "This strategic move to focus on healthcare is in line with Downing’s continuing emphasis on ESG and sustainability. Howard Kennedy leveraged their experience, expertise and resources to help us deliver this important transaction."
This strategic move to focus on healthcare is in line with Downing’s continuing emphasis on ESG and sustainability. Howard Kennedy leveraged their experience, expertise and resources to help us deliver this important transaction.
Want to hear more from us?