Kirkland Advises Cobham on Recommended Cash Acquisition of Ultra Electronics Holdings plc

Kirkland & Ellis is advising the Cobham Group ("Cobham") on the recommended all cash acquisition of the entire issued, and to be issued, ordinary share capital of Ultra Electronics Holdings plc (“Ultra”). The acquisition values Ultra’s issued, and to be issued, ordinary share capital at approximately £2.57 billion on a fully diluted basis.

Ultra provides application-engineered solutions in the key elements of mission critical and intelligent systems that are on many of the world's long-term defence programmes.  Ultra partners with the US Department of Defence, the UK Ministry of Defence and other aerospace, defence and critical infrastructure providers, both directly and through prime contractors.  Cobham has been indirectly controlled by Advent and its affiliates since January 2020. 

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The Kirkland team was led by corporate partners Adrian Maguire and David Holdsworth and associates Chris Connolly, George Rawlinson, Chris Weale and Jack Evans; debt finance partners Chris Shield and Leon Daoud and associates Thomas Raftery, Phanne Yang and Tilly Kersley and high yield partners Matt Merkle and Michael Taufner and associate Lena Yoon.