BLP advises on the acquisition of Harvard International’s medical-equipment division and surplus property portfolio for GBP 10m
Berwin Leighton Paisner (BLP) has advised entities controlled by Daniel Harris (Chief Executive of Harvard International plc) and members of his family on the acquisition of Harvard International’s Medical Equipment Division (HMD), together with the related acquisition of a portfolio of properties from Harvard International, a distributor of consumer electronic goods in the UK and Australia and of medical electronic devices in the UK, Europe and the US.
The acquisition, which is subject to shareholder approval, will allow HMD and its management to focus on entry into new markets and the development of new products which are not a core part of HI’s business.
Client partner Keith Stella and corporate partner, James Klein led the BLP team, assisted by real estate senior associate Alan Gutteridge and corporate finance associate Michael Jadeja.
Commenting on the transaction, Keith Stella said:“Our relationship with the Harris Family and the group goes back very many years. Having acted personally for the Harris Family on the original flotation of the Company in 1987, it is tremendously satisfying, professionally speaking, to have had an involvement in a transaction which takes part of the business and its assets back into family ownership, albeit some 22 years later.”
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