Corporate Activity Remains Strong as Wallace Clients Continue to Expand Business and Make Acquisitions
December 2009
Wallace is set to finish the calendar year in a strong position, with several corporate acquisitions nearing completion, the latest deal to close being the acquisition of First Line Logistics by W.T. SeaAir, a long standing client of Wallace and a market leader in global supply chain logistics. Branded W.T. First Line, the newly formed company will bring together the international footprint and multi-modal expertise of W.T. SeaAir with the ‘downstream’ logistics capability of First Line.
Wallace’s corporate team continues to draw a steady stream of new clients including attracting new work from a life assurance group and providing ongoing corporate advice to clients in the hedge fund sector. Also this month the team completed the sale of the managed hosting and domain name registration business of XCalibre Communications to Host Europe, as well as advising on the reorganisation of XCalibre's collocation and cloud hosting platform business.
As well, Wallace's commercial litigation team has had recent success in a jurisdictional dispute which involved working in consultation with the Prague office of a multinational US-based law firm. Wallace was successful in winning the right to have a further court hearing in the UK rather than in the Czech Republic, a result which had positive implications for the client.
David Judah, head of corporate at Wallace, commented: “We are pleased to see our clients remaining busy during a year where many entrepreneurial businesses are being more commercially conservative than they were previously. We have enjoyed guiding clients through these times and helping them to make wise business decisions; it reflects positively on our team that these clients continue to consult us at a time where many businesses are cutting back on their legal spend.”
Managing partner, Rex Newman, said: “It is great to see our teams working together to assist new and existing clients across a range of practice areas. Our vision of recent years is cementing itself in practice, whereby our carefully assembled teams are complementary to one another and enable us to provide bespoke advice. Many of our clients come to us for help with a range of different matters, and our collegial and close knit approach is standing us in very good stead in times where people are looking for a personal touch and ultimately, value for money.”