Fri, 21/04/2017 - 14:47
Law firm Howard Kennedy has advised Lynx Equity on its acquisition of specialist label printer Label Express.
The acquisition completed on 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 USD1 million and USD10 million, 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.
Lynx Equity vice president Mathew Burpee says: “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.”
The Howard Kennedy team was led by senior associate Karen Ozdamar and partner and head of M&A Anthony Hunt. They were supported by Nick Treppass (employment), Alex Meloy (intellectual property) and Katharine Langabeer (banking). Blake Morgan advised Label Express.
Ozdamar says: “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.”
Burpee adds: “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.”
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