By Lee Perry
Shoosmiths’ corporate team has advised on the £221 million sale of smart locker technology and field service solutions company Bybox to private equity backer Francisco Partners
The Shoosmiths team represented LDC (Managers) Ltd and the shareholders as part of the strategic investment, which will help ByBox’s expansion in the UK and the global deployment of the Konnect app-locker platform.
Corporate partner Sean Wright led on the sale and the subsequent re-investment by LDC. Sean was supported by corporate partners Andrew Millar and Sanjeev Sharma on the sale aspect, with further support from senior associate Nina Smith, and solicitors Adam Leszczynski and Jon Brown. On the investment side, Sean was supported by corporate partner James Foster, with assistance from associate Natalie Hager and solicitor Sophie Davies.
Sean said: “This represented a complex transaction involving a significant number of parties, while balancing the need to preserve the overall investment structure. We are pleased that our national team has drawn on its experience and strength in depth to assist in this transaction, and we wish LDC and Stuart and the team every success.”
ByBox CEO and co-founder Stuart Miller said: “LDC has worked incredibly closely with our ByBox team to ensure we have a successful strategy going forward, and we are grateful for their insight and support. In addition, as always, a deal can only be as good as the advisors who are making it happen. So it was great to have Sean and his team from Shoosmiths alongside us again with the same outstanding level of support as they provided back in 2016.”
LDC investment director Alastair Weinel said: “The support and commitment from Sean and the team at Shoosmiths has been nothing short of first-class. We are delighted to work with them again.”