Shoosmiths helps NorthEdge take majority stake in Jigsaw24

Shoosmiths helps NorthEdge take majority stake in Jigsaw24

Published:

Author: Sophie Llewhelin

Shoosmiths' Shaun McCabe has acted as part of a team of experts to NorthEdge Capital to acquire a majority stake in Jigsaw24.

Partner and banking specialist McCabe advised Nottingham-based Lloyds Corporate bank and Lloyds Commercial finance on its provision of senior debt and invoice finance facilities to NorthEdge to fund the acquisition and working capital.

NorthEdge Capital - an independently-owned equity house targeting businesses in the North of England -took a majority stake in the £60m-turnover business - a broadcast kit and IT provider which is headquartered in Nottingham with a service operation at MediaCity.

The firm was founded by Grant Berry and Andy Ball, who previously worked for LDC, the private equity arm of Lloyds Bank.

Cooper Parry and Transend provided corporate finance advice. Deloitte and PwC provided due diligence to NorthEdge and management.