LONDON (ShareCast) - (Sharecast News) - Professional services firm Gateley said on Monday that it has acquired trademark and design law firm Groom Wilkes & Wright for a maximum consideration of up to £9.0m.
Led by senior partners Trevor Wright and Katy Adams, GWW will operate within Gateley's Business Services Platform and will continue to trade under the name Groom Wilkes & Wright.

Under the terms of the acquisition, Gateley will make an initial payment of £5.72m for GMW, with all consideration payments to be satisfied in 75% cash, with the remaining 25% to be covered by the issuance of ordinary shares of 10p each. The initial cash consideration will be funded from Gateley's new £80m revolving credit facility.

The balance of the consideration will be payable by reference to a two-year earn-out period, with additional consideration equal to one times the underlying earnings of the acquired business in each of the two years after completion.

Gateley said the combined "strength and depth of expertise" offered by GWW and its Adamson Jones subsidiary will position the group as one of the leading trade mark specialists in the UK, making it well placed to extend and win more work in the sector.

Chief executive Rod Waldie said: "This strategic acquisition will extend our reach in trade mark work across our consultancy and legal services teams who operate in this field. The acquisition forms part of our acquisitive and organic growth plan to develop a distinct and innovative intangible assets offering that further builds on the extensive expertise we have in the market, and where we are already seeing huge potential for further growth."

As of 1205 BST, Gateley shares were down 0.24% at 126.70p.





Reporting by Iain Gilbert at Sharecast.com

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE