Murgitroyd Group PLC (AIM:MUR) acquired Chapman IP from Helga Chapman for £6.6 million on February 20, 2019. The deal value is paid in cash. The total consideration of approximately £6.6 million is inclusive of net assets for Chapman IP to be confirmed by completion accounts, but estimated at around £0.6 million. Under the terms of the agreement, £5 million was paid in cash upon completion, the net asset payment will follow immediately upon agreement of completion accounts and the balance of £1 million is payable twelve months following completion. The transaction has been funded through a combination of existing cash resources and new term debt facilities amounting to £5 million arranged with Clydesdale Bank PLC. For the year ending June 30, 2018, Chapman IP's turnover amounted to £4.1 million and net assets amounted to £0.51 million. With the exception of Helga Chapman, all of Chapman IP's patent and trade mark attorneys are remaining as employees with Murgitroyd Group PLC. In addition to the five qualified attorneys remaining, an attorney consultant, three trainee or part-qualified attorneys and five experienced support staff will join Murgitroyd Group PLC as part of the transaction. Three other former Chapman IP support and administrative staff left Chapman IP prior to completion. Helga Chapman stepped down from an executive role with Chapman IP upon completion but will remain with the enlarged group, joining the Board of Murgitroyd Group PLC as a non-executive Director. The acquisition follows a period of extensive due diligence. The acquisition is expected to be earnings enhancing for Murgitroyd Group PLC in the first full financial year following completion. Richard Swain and Hollie Blackwood Fisher of Clarke Willmott acted as legal advisors to Helga Chapman. Murgitroyd Group PLC (AIM:MUR) completed the acquisition of Chapman IP from Helga Chapman on February 20, 2019.