Tuesday, 25 May 2010 09:56
MULTI-MILLION DOLLAR ACQUISITION FOR HEADLAND MEDIA CONFIRMS STRONG UPWARD TREND IN DEALS ACTIVITY FOR SCHOFIELD SWEENEY SOLICITORS
Schofield Sweeney solicitors has advised international media business, Headland Media Limited, on its strategic acquisition of Newslink Services Limited. The global deal involved Newslink's interests in Bahamas, Cyprus, India and the Philippines.
With offices in Leeds, Liverpool and Tilbury in the UK, Copenhagen in Denmark and Fort Lauderdale and New Jersey in the USA, Headland Media, specialises in the provision of high quality and cost effective media content in text, audio and video formats to maritime, hotel and retail sectors around the world. Earlier this year, Schofield Sweeney advised Headland on its £3.5 million re-financing by Yorkshire Bank.
The acquisition of Newslink by Headland is the latest in a series of deals, for a diverse range of clients, that has kept Schofield Sweeney's corporate team busy since the start of the year. The firm expects deals activity during the rest of May and June to remain equally busy. Schofield Sweeney chairman, Chris Schofield, commented:
“Despite the general market conditions, which remain slow across all sectors, we have had an extremely active start to the year and, with a number of deals due to complete during May and June, the first half of this year is set to be one of our busiest on record.
“When the first signs of the recession started to emerge about 18 months ago, we took a decision to keep the team together and to continue to recruit high quality lawyers that came onto the market. This approach ran contrary to other law firms who have downsized legal teams during this period. I am pleased to say that our strategy has paid off. During our last financial year, we increased turnover by 1%, compared to a 15 – 20% fall in turnover in the legal sector generally. Our corporate and commercial teams is now one of the largest in Leeds and Bradford, which has meant we have been able to respond promptly, and with a high level of service, to businesses that have had deals to complete.”