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Memery Crystal advises on the sale of long standing client Lombard Risk Management

06/02/2018

At a glance

Memery Crystal’s corporate team advised the board of Lombard Risk Management plc (“Lombard Risk”) on the recommended cash acquisition of Lombard Risk by Vermeg Group, which was announced on 11 January 2018. The offer price values the issued and to be issued share capital of Lombard Risk at approximately £52.3 million. The acquisition is structured as a scheme of arrangement and is conditional, among other things, on shareholder approval.

Lombard Risk was admitted to trading on AIM in September 2004 as an established financial software and managed services company with a suite of software products primarily focussed on the interest rate and credit derivatives markets. Since then, Lombard Risk has diversified, through acquisition and organic growth, into regulatory reporting and collateral management.

The bidder is Vermeg Group N.V., a privately held European insurance management solutions and a financial software provider, with operations in France, Belgium, the Netherlands, Luxembourg and Tunisia.

The Memery Crystal team was led by Corporate Partner, Greg Scott, assisted by a corporate team including Senior Associate, Vivian Klaf, Associate Robert Black and trainee solicitor Thomas Grace. The tax team was led by Head of Tax, Alex Barnes with assistance from trainee solicitor, Suresh Patel.

Greg Scott said: “We have advised Lombard Risk since before its IPO on AIM in 2004 and have assisted on numerous acquisitions and fundraisings along the way. This demonstrates Memery Crystal’s ability to act for entrepreneurs who take companies public and then stay on board as they grow and develop, through to exit.”

Memery Crystal is a specialist international law firm based in London with a well-established history of acting for clients in the corporate sector. As an industry-leading advisor to companies and Nominated Advisers/Brokers in the AIM space, Memery Crystal have again been included in “Band 1” in the most recent edition of the Chambers UK legal directory. Furthermore, the corporate team is also ranked in “Band 2” for M&A in Chambers UK.

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