Law firm Stephenson Harwood LLP has advised AIM-listed Focusrite plc on its acquisition of Linea Research Holdings Limited for a total consideration of £12.6 million. This comprised £12.1 million of initial consideration paid on completion, with an additional £0.5 million to be paid subject to the achievement of various performance conditions relating to the period ending May 2023.
Focusrite is a global music and audio products company which supplies hardware and software used by professional and amateur musicians. Linea Research Holdings Limited is a UK-based designer and manufacturer of professional audio equipment.
"This acquisition extends Focusrite's customer offering by expanding its business into new products and markets," said Tom Nicholls, partner, Stephenson Harwood. "We have enjoyed continuing to work with the Focusrite team, following their acquisition of Martin Audio – which is a significant customer of Linea – in 2019. We look forward to supporting Focusrite as it continues with its growth plans."
The Stephenson Harwood team was led by corporate partner Tom Nicholls, who was assisted by corporate senior associate Michelle Gomes and associates Charmaine Yuen and Matt Askew. Further assistance was provided by tax senior associate Kate Worthington, employee incentives consultant Sue Farrow, real estate partner Catriona Berman, employment associate Michèle Aubertin, IP associate Briony Byrne, pensions associate Julia Cooper and commercial senior associate Ali Llewellyn and commercial associate Jonathan Howie.