Keystone Law has advised AIM quoted residential property management and services group HML Holdings Plc on its public to private takeover by BDB Nominee Company Limited, a company established for Harwood Capital LLP on behalf of Harwood Private Equity V L.P.
HML has over 50 years’ experience of managing a varied portfolio of developments and more than 20 offices around the UK.
The all-cash offer, which was the first contractual takeover offer to be announced since the Covid-19 lockdown began, was declared wholly unconditional on 11 September 2020 and valued HML at approximately £19 million. Following the takeover, HML’s AIM listing is set to be cancelled on 13 October 2020.
The Keystone team has been led by corporate solicitor Edward Dawes. Edward said:
“We first started working on this project before the Covid-19 lockdown and Keystone’s innovative online platform and infrastructure proved invaluable in facilitating a smooth and efficient process, ensuring all necessary resources were always on hand and accessible.”
Alec Guthrie, CEO of HML Holdings, said:
“It has been a really positive experience working with Edward Dawes and his team at Keystone on this strategically important deal. Edward and the team continue to provide pragmatic, clear advice which helped not only in the legal process but also in ensuring all of the relevant considerations from a due diligence perspective had been thought through. I cannot praise Keystone more highly.”
BDB Pitmans LLP is advising the bidder.