BPE is pleased to have acted for Versarien plc on the strategic sale of their wholly owned subsidiary AAC Cyroma Ltd to Harper Bennett Ltd.
The sale was supported by Anthony Rudge, Partner, and Caroline Trasler, Senior Associate in BPE’s Corporate and Commercial team.
Versarien says the disposal of AAC Cyroma is in line with the company's strategy to focus on its core graphene technology and divesting of its mature businesses. The proceeds of the disposal will be used for the company's general corporate and working capital purposes.
Stephen Hodge, chief executive officer of Versarien, said: "The sale of AAC Cyroma is a pivotal step in our turnaround strategy, allowing the company to continue to focus on maximising the potential from graphene and advanced engineering technologies, and take a manufacturing‐light approach.
"In our core business the pipeline of opportunities and partnerships continues to improve, and I believe that Versarien is increasingly well positioned for sustained growth and industry leadership."
BPE Partner, Anthony Rudge, said: “We were very pleased to be able to support Versarien in this sale. Their heightened focus on graphene-based technology is an important strategic step for them and we look forward to seeing the progress with their ambitions in the future.”
As a law firm that prides itself on commerciality, BPE prides itself on working strategically with clients to ensure that they meet their long- and short-term goals for years to come.
Versarien, the Gloucestershire-based advanced materials engineering group, specialises in the production of graphene. AAC Cyroma is a specialist plastics manufacturer that supplies vacuum-formed and injection moulded products to the automotive, construction, utilities and retail industry sectors. It used Versarien’s existing graphene manufacturing capabilities to produce graphene enhanced plastic products.
