Travers Smith has advised pan-European investment group AURELIUS on the acquisition of leading UK property services provider TM Group Limited (UK), valued at up to £91m, from Dye & Durham Corporation, the Toronto Stock Exchange listed provider of mission-critical software for legal, financial and business professionals.
With revenues of £62m in 2022, TM Group has an established presence within the UK property market, providing search aggregation services (including Title, Local Authority, Water & Drainage and Environmental searches) which are a key component of the conveyancing process.
The Travers Smith team on this transaction was led by Corporate Partner Mohammed Senouci, and included Associate Jonathan Fritz and Trainee Danny McNeill. Competition advice was provided by our Head of Competition Nigel Seay and Associate Aimee Westley; Commercial advice was provided by Partner Richard Brown, Senior Counsel Michael Ross, and Associate Andy Maxwell; Tax advice was provided by Partner Hannah Manning and Senior Associate Kyle Rainsford; and Finance advice was provided by Partner Donald Lowe and Associate Shehan Canagasingham.
Other advisers on this transaction which has received approval from the UK's Competition and Markets Authority (CMA) included Rothschild (Corporate Finance), CIL (Commercial) and KPMG (Financial).
