Dentons has advised AIM-listed ULS Technology, a provider of online B2B platforms for the UK conveyancing and financial intermediary markets, on its acquisition of Conveyancing Alliance Holdings Limited and its UK subsidiary, Conveyancing Alliance Limited.
Dentons advised on all aspects of the deal, including commercial, tax and banking matters.
The firm also advised ULS on banking facilities with HSBC Bank in respect of two new debt facilities: a GBP5 million five-year term loan and a GBP2 million three-year revolving facility.
Ben Thompson, chief executive officer of ULS, says: "Conveyancing Alliance has shown a strong track record of revenue and profit growth and fits neatly within ULS Technology and its plans for the future. Around half of all UK conveyancing is bought by consumers following estate agent recommendations. Currently ULS has little presence in this sector, which is one of the reasons that the strategic fit with Conveyancing Alliance is so strong. Our combined offering is intended to provide highly competitive pricing and a modern technology service that makes customers' lives easier, enabling them to complete a home move painlessly and more quickly. We thoroughly look forward to working with the Conveyancing Alliance team to enjoy even stronger future success."
Dentons' corporate senior associate Francesca Bettermann adds: "We are delighted to have advised ULS on this acquisition. This deal is central to ULS's strategy of growing market share in the UK conveyancing market and will help them pursue further growth via introductions from the estate agency market."
The Dentons team was led by corporate partner Nicholas Plant with additional support from corporate senior associates Francesca Bettermann, Joseph Altendorff, and Faye Garvey and tax senior associate Suhail Qureshi.
