Law firm Moorcrofts’ corporate team has advised Extrinsica Global on a demerger and restructuring. Peter Woolley, corporate partner, led the transaction, with support from Kierendeep Sahota, corporate assistant solicitor.
Extrinsica Global delivers enterprise-grade, cloud-based solutions to customers around the globe, from design and build through to service management and support, and it has been a Microsoft Worldwide Partner of the Year finalist in 2015, 2016 and 2017.
The transaction (which included two preliminary capital reductions, followed by a capital reduction demerger) has resulted in Extrinsica Global’s intelligent automation software business (which is now owned by Certain Six) being demerged from its cloud-based business (which continues to be owned by Extrinsica Global).
The transaction also involved fresh rounds of investment from existing shareholders in both Extrinsica Global and Certain Six.
Simon Smith, CEO of Extrinsica Global, said: “The structure that Peter Woolley identified and implemented was incredibly impressive. It was a really great experience working with Peter and the wider Moorcrofts corporate team. They represented our interests brilliantly throughout the process and there is no doubt that Moorcrofts will be our legal partner of choice from here on.”
Woolley commented: “We are extremely pleased to have helped Extrinsica Global with their demerger and the further investment in both Extrinsica Global and Certain Six. We look forward to working with both Extrinsica Global and Certain Six on other projects in the future.”