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11th February 2016
Birketts, the top 100 law firm, has advised the shareholders of cr360, a market leader in environment, health and safety management and sustainability software, on its sale to the UL Group, a US-based global independent safety science company. The financial value of the deal was undisclosed.
Founded in 2004, cr360, a privately held company has more than 200 customers, mostly large multi-nationals, in over 160 countries. The acquisition of cr360 will allow UL to expand into new markets and the new business will be named UL EHS Sustainability.
Birketts advised on all legal matters with James Allen (US and UK dual qualified) leading the award-winning corporate team. Assistance on the deal was provided on a range of legal services by colleagues, Kenneth Damien (corporate), Karl Pocock (tax), Lottie Seaborn (share options) and Isabel Wightman (property).
Anthony Jenking, co-founder and managing director at cr360, said: “Throughout the transaction the team at Birketts was highly responsive and kept us fully informed, ensuring the deal was completed within a tight timeframe.”
James Allen, corporate partner at Birketts, said: “I am delighted with the way that our experienced team advised on a range of legal issues during the course of the transaction, including the 72 option holders (many of them based abroad) that had to be dealt with before completion, in order to secure a successful sale for the shareholders of cr360.”
He added: “We are seeing a number of deals within the technology sector involving software companies being purchased by US buyers.”