A cross-border team at Dentons is advising new client, Vitesse Media plc (to be renamed Bonhill Group plc), the AIM-quoted digital media and events business, on its US$27.1 million reverse acquisition of the trade and assets of InvestmentNews from Crain Communications, one of the US’s largest privately held B2B media companies.
InvestmentNews is a market-leading business information and data and insight brand supporting the US financial adviser and wealth manager community. The acquisition is being funded by way of an accelerated bookbuild placing of new shares raising £18.6 million. The deal is expected to close in mid August.
Simon Stilwell, Chief Executive of Vitesse, said, "We are delighted to announce the acquisition of InvestmentNews. Since I joined Vitesse last year we have overhauled the management team as well as the strategy and this is the first major step in executing on our growth plan.
"I want to thank Dentons for their support. We needed a team to cover UK and US corporate law, and the international team there worked extremely well to get us the result we wanted. At the crucial time there was a seamless handling of cross-border issues and an obvious determination to get a complex transaction completed in a tight time frame."
Dentons' UK Head of Corporate David Collins, who led on the deal, said, "It has been a pleasure working with the new management team at Vitesse as they embark on their growth strategy for the business with this transformational acquisition and fund raising. The deal plays to a number of our key strengths: our deep experience in cross-border M&A transactions, our focus on active, growth companies – particularly in the digital economy – and our strengths in equity capital markets transactions.
"It has been a very productive period for us on cross-border deals in the public markets in London, following our roles advising Dubai-headquartered RA International on its AIM IPO; Stifel Nicolaus Europe and BMO Capital Markets on the AIM IPO of the Toronto Venture Exchange-listed, Asia-focused oil and gas explorer, Jadestone Energy; and Smith & Williamson and Hannam & Partners on the AIM IPO of the ASX-listed independent gold explorer and developer in Brazil, Crusader Resources."
In addition to David Collins, the Dentons team advising Vitesse Media on its acquisition of InvestmentNews included counsel Mark Stewart, senior associate James Davison, associates Lucy Conway and Norina Arif, and trainee Amnah Al Yousif. The Dentons team in the US is led by Corporate partner Amanda Leech, with assistance from associate Hunter Carpenter.
About Dentons
Dentons is the world's largest law firm, delivering quality and value to clients around the globe. Dentons is a leader on the Acritas Global Elite Brand Index, a BTI Client Service 30 Award winner and recognized by prominent business and legal publications for its innovations in client service, including founding Nextlaw Labs and the Nextlaw Referral Network. Dentons' polycentric approach and world-class talent challenge the status quo to advance client interests in the communities in which we live and work. www.dentons.com.
