Uría, Garrigues instructed on €70m MCH´s acquisition of Logalty
Uría Menéndez has advised Span´s Venture Capital fund MCH on the purchase of 100 per cent of Logalty from Informa D&B, Socyam and Seur while Garrigues has counselled Logalty´s partners
The Spanish Venture Capital fund manager MCH has agreed to purchase 100 per cent of Logalty, a Spanish legaltech platform for the generation of electronic evidence, from Informa D&B – part of the State credit agency Cesce group -, Socyam and Seur.
Following a competitive and open sale process, the agreement was signed on December 31 and is subject to obtaining the relevant administrative authorisations, including the approval of the Council of Ministers. The operation, which amounts to €70 million according to several media, is part of the convenience of promoting the development of new products and Logalty´s international expansion.
To date, Logalty’s share capital has been distributed among Informa D&B (49.99%); the company Socyam Participaciones, in which former partners of the firm Garrigues hold a majority stake (39%); and Seur (11%). The operation will be closed in the first quarter of 2021. The incorporation of MCH to the project means “strong support for Logalty and its team in its plan for development and international growth,” both entities have stated. MCH’s investment comes at a key moment in the development of Logalty’s business, especially in a market context where digitalisation is playing a fundamental role in business strategy.
Logalty’s partners have been advised by JB Capital and Garrigues, while MCH has been advised by Houlihan Lokey, Uríaa menéndez, KPMG, BIP Financial Services and EY-Parthenon. The financing of the operation will be provided by Tresmares, a financing platform specialised in high-growth SMEs.
Uría Menéndez´s team advising MCH was led by Madrid office partner Antonio Sánchez Cerbán (pictured left)and included on the Commercial side Barcelona office counsel Nuria Porxas and associate María Conejero Beltrán, Madrid office senior associate Yushi Zhou and junior associate Rodrigo López Checa, and, on the Tax matters, Madrid office senior associate Sara Asensio.
Garrigues´team counselling Logalty´s partners was led by Madrid office Commercial partner Víctor Chiquero (pictured right) and included senior associate Natalia Gutiérrez and associate Alejandra Abal.