Howard Kennedy advise Lynx Equity on second UK acquisition
Law firm Howard Kennedy has advised Lynx Equity on its acquisition of specialist label printer Label Express. The acquisition completed on Wednesday 12 April and is Lynx Equity’s second UK investment.
Lynx Equity is a Canadian-based private equity firm with a diverse portfolio of companies across North America. It invests in small and medium sized businesses, typically valued between US$1m and US$10m, where owners wish to retire. Its first investment in the UK was the acquisition earlier in 2017 of specialist bathroom and kitchen storage company SignalHome. Further UK acquisitions are expected.
Label Express has for the past 30 years provided fast turnaround specialist labels for the food and drink, health and personal care, household products, automotive, and retail and promotional markets. The company has consistently grown and is highly process orientated with ISO9001, ISO14001 and British Retail Packaging accreditations.
Speaking of the decision to expand its UK portfolio, Lynx Equity Vice President Mathew Burpee said:
“We believe the current risks and challenges in the UK market present an ideal time to be a buyer. By using our US funds to buy in the UK we are taking advantage of the strong US dollar and historically weak UK pound, while also dramatically increasing our portfolio's geographic diversification.
“We have spent a lot of time evaluating the risks associated with the UK and Brexit and we feel that there are still plenty of opportunities to buy exceptional companies who will remain strong and successful regardless of the future economic outcomes for the country.”
“We are excited to be working alongside the team at Lynx Equity as they expand their business into the UK. They have a business model that has worked extremely well in North America, and are replicating the same here in the UK. We are delighted to be part of their success.”
“This was our first time working with Howard Kennedy and we were thrilled to have them on our side. They were diligent yet pragmatic throughout the entire process, ensuring we were well protected and that all risks were fully understood.
“Karen, Anthony and their team showed a tremendous understanding of the soft side of the M&A process, maintaining deal momentum, and recognising areas where we could stand our ground versus where we needed to be flexible to maintain our relationship with the selling management team.”
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors, and, through HK One, the firm’s legal concierge service for high net worth individuals with complex legal needs.
Matt Baldwin, Coast
Tel: 01233 503200 / 07930 439739
Daryl Atkinson, Business Development & Marketing Director