Bond Pearce and Blake Lapthorn land roles on £100m defence financing
Bond Pearce and Blake Lapthorn have won roles advising on the £100m financing of an acquisition by defence company Chemring. Bond Pearce picked up a mandate to advise its longstanding client Chemring on the financing aspects of its acquisition of the US defence manufacturer Hi-Shear for a price tag of $132m (£80m).
October 14, 2009 at 05:46 AM
2 minute read
Bond Pearce and Blake Lapthorn have won roles advising on the £100m financing of an acquisition by defence company Chemring.
Bond Pearce picked up a mandate to advise its longstanding client Chemring on the financing aspects of its acquisition of the US defence manufacturer Hi-Shear for a price tag of $132m (£80m).
The deal saw banking partner and project finance head Graham Jeffries taking the lead on the transaction.
Blake Lapthorn advised Lloyds Banking Group on the lending facilities under London banking partner Claire Wheatley and Southampton corporate finance partner Michael Moore.
Jeffries said: "The facility illustrates the importance of a strong existing bank relationship when responding to acquisition opportunities."
Wheatley said: "The acquisition of Hi-Shear was challenging because it involved the purchase of a US publicly-listed corporation by a UK public company and Chemring needed to know that it had a facility in place."
Chemring instructed US firm Seyfarth Shaw for local advice on the acquisition, with Chicago corporate partner Robert Weber at the helm.
Fareham-based Chemring specialises in land, sea and air military protection systems.
Hi-Shear manufactures products for US space and defence programmes, including space launch vehicles, missile defence and satellites.
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