Liverpool lawyers advise on transatlantic deal

Lawyers in the Liverpool office of GAD Commercial Solicitors and Abrams Law have advised on another transatlantic deal. Tony McDonough reports

Jonathan Abrams
Jonathan Abrams, director at GAD Commercial

 

Liverpool lawyers have played a key role in a transatlantic deal, advising on a UK acquisition by a US finance company.

It is the second UK-US deal GAD Commercial Solicitors and Abrams Law, a UK-based US law practice, have advised on in the past few weeks. In early April it advised on the merger of two software businesses.

Now it has advised Purely Capital’s board on the acquisition of its business by US finance company Pipe for an undisclosed sum. Pipe, based in Miami, Florida, was established to help founders of creative businesses to decide how to finance their companies and allows owners to scale up without taking on restrictive debt or relinquishing ownership interest.

It has acquired UK outfit Purely Capital, which specialises in media and entertainment financing, and the deal will see Pipe launching a new media and entertainment division.

It will enable producers, rights owners, and distributors access to immediate up-front revenue from their long-term licensing contracts from investment-grade streaming services and broadcasters, including Amazon, Netflix, and Disney.

Purely has originated the purchases of more than 250 titles from its customers, representing more than £37m in revenues. Harry Hurst, co-founder and co-CEO of Pipe, said: “We are excited to announce the acquisition of one of Purely Capital.

“Now, operating under the Pipe platform, we’re confident we’ll be able to continue to tap into this £200bn a year market and provide a host of financing solutions and a truly category-defining service for the creatives and rights owners.”

Jonathan Abrams, director at GAD Commercial, who is also the principal US attorney at Abrams Law, advised Purely’s founders Dan Abrams and Wayne Godfrey on the acquisition.

He added: “This tie-up will be a game-changing route to alternative finance for TV and film producers, rights holders and distributors. The two organisations combined will help provide creatives in the film and TV sector the finance needed to grow their businesses and will be seen as a playing a pivotal role in the industry’s future.”

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