The aggregate consideration of £27.5 million will be paid in cash by Midwich Group. The initial consideration of £16.5 million payable upon completion of the acquisition will be followed by two fixed instalments of £5.5 million each after twelve and twenty four months respectively.
The DWF team advising Nimans included Frank Shephard, Rebecca Gargary, Sadia Nadeem, James Cashman and James Collinson.
David Bennett, Group Managing Director of Nycomm Holdings Limited, commented, "Choosing the right partner in any situation is critical to success. I would choose DWF without hesitation every time. I have worked with Frank Shephard and the team at DWF for a number of years and continue to be impressed by the exceptional service, support by their friendly and good-humoured team. The deal team supported us at every step of the process providing valuable guidance and practical commercial advice to ensure a successful conclusion to the transaction."