Kaye Scholer represented Acuity Investments LLP on its acquisition of the entire issued share capital of Tower Leasing Limited, a leading equipment finance broker in the UK. Terms of the deal, which was announced 7 May 2015, were not disclosed.
Established in 2014, Acuity is an investment partnership focused on buying companies in the financial services sector, such as specialist lenders or insurance companies.
Acuity plans to be a long-term owner of Tower Leasing and does not contemplate changing the way that Tower conducts its businesses.
“We see a shortage of funding available to SMEs and we want to support Tower in helping SMEs to access finance,” Acuity partner Toby Franklin said. “Tower is nimble and entrepreneurial and has significant growth aspirations, but importantly, it is thoughtful and cautious and has a considered approach to growth. Overall, Tower aims to continue to provide an expert and consistent service to those businesses looking to invest and grow.”
The Kaye Scholer team was led by Corporate partners Andrew Harris and David Gerber, and included Tax partner Daniel Lewin and trainee solicitor Sherry Scrivens.
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