Pannone Corporate has advised on the cross-border acquisition of Easyairconditioning.com.

The Manchester firm acted as legal adviser to Beijer Ref AB – a Swedish listed business, which specialises in the wholesale of refrigeration and air conditioning products. Through the transaction Beijer Ref will expand its international footprint, strengthening its UK presence through the acquisition of the Midlands-based company.

The Pannone team was led by Tom Hall and included Arshnoor Amershi and Bez Borang.

Tom Hall said: “This is a fantastic acquisition for Beijer Ref, and cements its commitment to the UK market, as the company looks to grow its presence through a proven and highly successful network of 70-plus subsidiaries across Europe, Asia, Pacific and Africa. Easyairconditioning.com is a perfect fit for the business and complements its existing network in the UK.

“This cross-border transaction is yet another demonstration of the increasing appetite of large international businesses that have a strategic focus on the UK, using buy and build as an effective way to enter or expand into an overseas market. This has been a popular theme throughout 2022, with Pannone supporting large international clients on a number of significant cross border acquisitions this year, including acting for global cloud platform Esker on its acquisition of a controlling stake in Market Dojo, advising Dutch flower distributor van Duyvenvoorde on a significant UK acquisition and advising Argenbright on its strategic investment in Amberstone Security.

Easyairconditioning.com was established in 2001 and delivers a range of AC and heat recovery system solutions to business and domestic markets.

Christopher Norbye, CEO Beijer Ref, said: “With over two decades of experience, Easy Air Conditioning has accumulated a well-established customer base. They have a dedicated and committed team and we are pleased to welcome Easy Air Conditioning to the Beijer Ref group.”

Shakespeare Martineau (Michael Stace and Matthew Shephard) advised Easyairconditioning.com on the transaction.

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Pannone Corporate has advised on the USD $8 million investment into games studio and developer of virtual worlds, Dubit. The multi-million dollar deal will fund the world’s first live esports league in the metaverse, starting in Roblox.

The Manchester law firm acted as legal adviser to Metaventures founder and French investor Jean-Charles Capelli, who led the funding round. The Pannone team was led by Tom Hall (Corporate Partner), Andrew Walsh and Behzad Borang.

The capital funding values Dubit at USD $55 million and will enable the Yorkshire-based company to expand its existing metaverse activity, with the launch of the inaugural Metaverse Gaming League (MGL) – branded gaming events and esports tournaments. Following its launch on Roblox, the company intends to expand into other leading metaverse gaming platforms, such as Minecraft and Core.

Tom Hall commented: “We’re delighted to have worked alongside Metaventures and Jean-Charles in what is a hugely exciting deal in a rapidly growing technology space.

“The metaverse is grabbing both headlines and people’s imaginations, as major players commit to the virtual world. With a strong reputation amongst global brands for its development capabilities, the multi-million investment will undoubtedly provide Dubit with further momentum as it continues to expand its presence in the virtual world.”

Established in 1999, Dubit works with companies such as Disney, Facebook and Lego, and is already taking brands into Roblox. As part of its ambitious growth strategy, Metaventures and Dubit also plan to create consumer lifestyle experiences such as concerts and fashion shows for the metaverse.

Jean-Charles Capelli said: “Dubit is in the perfect position to take advantage of the new opportunities in the metaverse. No other company has 20 years’ experience in developing and launching virtual worlds, combined with a great network of brands and organisations that it works with around the world. As an entrepreneur and musician, I’m proud to invest in Dubit, and I’m excited to help scale up the incredible experiences it creates for users of Roblox and other metaverses.”

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Pannone Corporate has acted for the management team, Maven Capital Partners, and Mercia Fund Managers, on the proposed sale of Macclesfield-based fintech start-up, Mojo Mortgages, to RVU – the owner of multiple digital brands, including Uswitch, Confused.com and Money.co.uk.

The transaction remains subject to regulatory approval and customary closing conditions.

Mark Winthorpe, corporate partner, who lead on the deal, commented: “Mojo is fantastic North West success story, demonstrating the significant potential that exists in the regional’s fintech community when you cleverly combine smart technology with market and consumer insight. This deal is testament to the considerable investment and ambition that the team has made in the last few years and is an exciting milestone in the growth journey of the tech start-up.”

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