Sale of Chapman IP to Murgitroyd Group PLC

WK Corporate Finance has advised on the sale of Chapman IP to AIM listed Murgitroyd Group PLC for cash consideration of £6.6m.
Chapman IP are a UK and European patent and trade mark attorneys with sector specialisms in materials sciences, chemistry, engineering, IT and technology, and design and creative.  Chapman employed 20 staff from its offices in Southampton, including a team of highly-qualified, dedicated and exceptional sector experts.  Turnover for the year ended 30 June 2018 was £4.1m and adjusted EBITDA was £0.9m.
Murgitroyd is an international firm of intellectual property attorneys headquartered in Glasgow, specialising in patents, trade marks, designs and copyrights. The firm was established in 1975 by Ian Murgitroyd, and, pre-transaction, had 15 offices worldwide and over 270 employees.
“Reflecting the continuing importance to the group of its European patent and trade mark attorney practice, the acquisition of Southampton-based Chapman IP complements Murgitroyd’s existing European network and client base,” commented Chairman Ian Murgitroyd.  The acquisition is expected to be earnings-enhancing for Murgitroyd in the first full financial year following completion.  Helga Chapman, founder and former Managing Director of Chapman IP, has been appointed as a Non-Executive Director with immediate effect.
Speaking of her advisers on the transaction, Helga commented:
“Throughout the deal process Rob Holmes and Rocchina Covucci were indispensable. Put simply I couldn’t have sold my business without them. I would recommend them without hesitation. They navigate the very complex path through due diligence and negotiations with the utmost professionalism but combine this with support and hand holding when needed”.
Keith Young, Finance Director at Murgitroyd Group PLC commented:
“I wanted to get in touch to thank you for your part in ensuring [the transaction] went as smoothly as it did. Many thanks for your diligence in fielding the many questions that were sent your way, and for your help in managing the whole process to an ultimately successful completion. Thank you”.
Clarke Willmott (led by Richard Swain) advised Helga Chapman on the sale. Burness Paull (led by Walter Clark) advised Murgitroyd.

If you have any questions in relation to this deal or the sector, please contact us:

Rob Holmes
For and on behalf of WK Corporate Finance
T: 01962 852 263
E: r

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