Lawyer Monthly - July 2022

Acted as Advisers on the transaction SOL ENVIROMENTAL Lawyer Monthly Transaction Reports - Mergers & Acquisitions 84 WWW.LAWYER-MONTHLY.COM JUL 2022 ABOUT THE DEAL Gray + Press has advised Belfastbased IT recycling company Vyta Group (formerly AMI) on securing private equity investment and acquiring Essex-based IT disposal company FGD. Vyta is receiving an investment of around £11 million from MML Ireland, Vyta CEO Philip McMichael, other members of the Vyta senior management team and the FGD founders. MML Ireland will receive a minority shareholding in the group through its investment, which will also see its investment leads – Neil McGowan and Christopher Walsh – join the Vyta Group board. The investment is expected to boost the company’s acquisition strategy throughout the UK and mainland Europe. Vyta’s acquisition of FGD represents the most recent step in this strategy as it seeks to increase its market share organically at the same time as acquiring IT disposal companies with complementary business aims. As part of its acquisition, FGD will rebrand under the Vyta Group name and its 37 employees will join the company, increasing the size of the team to more than 120 across its network of offices. FGD co-founders Leigh Medhurst and Daniel Elson will become Vyta’s chief development officer and chief technology officer respectively. Gray + Press advised Vyta Group on tax matters during this process. Vyta was also advised by Tughans and PwC. MML Ireland was advised by Carson McDowell, Gore Grimes, Armstrong TS, SOL Environmental and Leading Resolutions. May 2022 Vyta Group Acquires FGD

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