Macfarlanes advises on acquisition and placing by Hyve

The estimated total consideration after earn-out is expected to be between approximately £42m and £50m. Macfarlanes worked alongside Hong Kong firm Howse Williams on the transaction.

Macfarlanes has also advised Hyve on an equity placing and subscription to fund the acquisition.

The transaction was led by corporate and M&A partner Harry Coghill, with assistance from senior counsel Mark Slade, senior solicitor Mark Stephens, solicitor Katya Lambert and South African qualified lawyer Ian Davis. Finance partner Kirstie Hutchinson provided debt finance support, assisted by senior solicitor Lizzie Chamberlain and solicitor Yagmur Yarar. Financial services partner Andrew Henderson and solicitor Mark Lawrence provided regulatory input. Tax advice was provided by tax and reward partner Ceinwen Rees and senior counsel Sarah Shucksmith.

Commenting on the transaction, Harry Coghill said: “We are delighted to have advised Hyve on this acquisition, which further accelerates its omnichannel strategy.”