McCann FitzGerald ranked No.1 Law Firm for Mergers & Acquisitions in Ireland for 2011
For the second year in a row, McCann FitzGerald has been ranked the No.1 law firm in Ireland for M&A activity by deal value by Experian Corpfin, one of the leading players in global financial information. McCann FitzGerald topped the Value League Table in 2011 by advising on over €7.7bn worth of deals in a variety of sectors ranging from financial services to pharmaceuticals to technology.
Commenting on the accolade, McCann FitzGerald Chairman, John Cronin, said: “We are very pleased to achieve this ranking for a second year in a row. We believe that it evidences our ability to advise on complex and highly significant transactions. In these challenging times we continue to work with our clients to apply our expertise, experience and knowledge to help them overcome the challenges they are now encountering.”
He added: “Despite today’s economic conditions, we foresee a steady flow of cross-border M&A work, especially in the technology, medical devices, pharmaceutical and financial services sectors, as Irish corporate assets are perceived globally to represent value for money. As always we would like to thank all of our clients for the work that they have entrusted to us.”
It was a very good year for McCann FitzGerald, with the firm advising on some of the most complex transactions of 2011 including acting for the joint administrators of Quinn Insurance Limited. McCann FitzGerald advised on the sale of the general insurance business to joint venture - Liberty Mutual Direct Insurance Company Limited. The deal was signed in April 2011 and completed in November 2011 after satisfaction of a number of regulatory and other conditions. This was a unique case of national importance and international significance and the deal was described by the joint administrators “as one of the most complex corporate restructurings they worked on”.
McCann FitzGerald also advised in the demutualisation and acquisition by AIB of EBS Building Society. This statutory acquisition conversion scheme of EBS Building Society formed one of the two Irish “pillar banks” that were announced by the Irish Government as part of the plan to restructure the Irish domestic banking sector.
McCann FitzGerald also advised London Stock Exchange-listed BAE Systems plc on its acquisition of AIM and ESM-listed Norkom Group plc. The transaction valued Norkom at approximately €217 million.
Other notable deals that McCann FitzGerald advised on include: Azur Pharma’s merger with Jazz Pharmaceuticals; the acquisition by TiTech AS of the entire issued share capital of Odenberg Investments Limited (a Dublin based food technology company), the sale of Superquinn business and related assets; and also Sherry Fitzgerald’s sale of its London estate agency Marsh & Parsons to publicly quoted LSL Property Services plc for £50 million.