Hogan Lovells Advises AEA on Restructuring and £18m Sale
12 November 2012
LONDON, 12 NOVEMBER2012, Hogan Lovells has advised AEA Technology Plc on its restructuring and the sale of certain of its businesses including the sale of its European consulting business to Ricardo for £18 million announced on 9 November 2012.
AEA Europe, which went into administration on Thursday 8 November 2012, is a leading environmental consultancy providing technical consultancy services to the UK public sector, the European Commission, international agencies and private sector organisations. Engineering consultancy Ricardo has acquired the business, operating assets and a staff of approximately 400, located at five UK sites, from AEA and will operate as Ricardo-AEA.
The Hogan Lovells team advising AEA was led by co-head of private equity Alan Greenough, corporate partner Guy Potel and restructuring partner Tom Astle.
Commenting on the transaction, Alan said:
"We are pleased to have advised AEA on its restructuring and successful sale to Ricardo, which both secures the future of the company and provides a platform for its continued success and growth, leveraging Ricardo’s global and industrial client base."
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