Law firm Stephenson Harwood LLP has advised Inflection Management Corporation on its £13.2 million recommended public takeover and refinancing of Superglass Holdings Plc, the UK’s largest independent glass wool maker. Glass wool is used for thermal and acoustic insulation, as well as fire protection, in houses and other properties.
Inflection is an investment company owned by Sergey Kolesnikov, the president and managing partner of Russian roofing and insulation group TechnoNICOL. Its cash offer of 5.6p per share represents a 114 per cent premium to the Superglass closing price on 21 July 2016. The transaction provides TechnoNICOL with a presence in the UK and Irish insulation markets.
The Stephenson Harwood team was led by partner Andrew Edge, head of the firm’s corporate practice, and included senior associates Guy Morgan, Tom Page (corporate) and Sean Crowley (finance), associate Ronnie Chiu (finance), and trainee Michelle Gomes (corporate). Stockdale Securities were the financial adviser to Inflection and they were advised by Stephenson Harwood Corporate partner Anthony Clare.