SGH acts on reverse takeover for super yacht company

Sprecher Grier Halberstam LLP has successfully assisted Monaco‐based client YCO S.A.M. and its shareholders in its €15m reverse takeover of AIM‐listed Deuxmil Marine Plc.

YCO S.A.M. is a provider of charter, management, brokerage and construction services in the glamorous super yacht industry. Super yacht owners tend to be ultra high net worth individuals and YCO has more than its fair share of A‐list clientele. High level service and complete discretion has enabled YCO to grow rapidly since its formation in 2003 and culminated in the transaction on which SGH LLP advised.

Cross border elements involving lawyers in Monaco added a degree of complexity to the transaction along with the fact that the transaction was a reverse takeover. The SGH team was led by Corporate partner, Rishi Malliwal, who advised on all aspects of the share sale and reverse takeover.

Following the reverse takeover, the enlarged company has been renamed YCO Deuxmil Plc in recognition of the strength of the YCO brand in what is an industry in which reputation counts for everything. Both businesses service the complex and
various needs of owners and prospective owners of super yachts. The complementary focus of both businesses should provide great synergies and opportunities for the combined company.

Rishi Malliwal commented,
“Co‐coordinating advice and working with lawyers from overseas jurisdictions is always very interesting and requires a clear focus on transaction management. I believe the transaction will mark the start of a new and successful amalgamation of two exciting businesses operating in a market which many claim, with some justification, to be insulated from the current uncertainties in the economic environment.”

Client Comment:
Whilst there are many Law firms that could handle a transaction such as ours in the City of London we were delighted to choose SGH to represent us. Rishi Malliwal, a Partner in the Firm guided us though the deal with consideration and professionalism and the level of service I and my partners received from Rishi was of the highest level. It is without hesitation that we would all recommend SGH to anyone looking for this level of work and I thank Rishi and all his team for negotiating and representing us in our recent project.

Gary Wright, John Clark and Charlie Birkett.

David Sprecher Partner, Head of Company / Commercial Department 020 7264 4404 davids@sghlaw.com

Emma Shipp Partner, Company / Commercial Department 020 7264 4406 emmas@sghlaw.com

Alok Gangola Partner 020 7264 4405 alokg@sghlaw.com

Rishi Malliwal Partner 020 7264 4407 rishim@sghlaw.com

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