Chengdu Aerospace Superalloy Technology completed the acquisition of Gardner Group Limited from BECAP Fund L.P. of Better Capital PCC Limited.

Chengdu Aerospace Superalloy Technology signed a memorandum of understanding to acquire Gardner Group Limited from BECAP Fund L.P. of Better Capital PCC Limited (LSE:BCAP) for approximately £330 million in cash on November 16, 2016. Gardner Group reported revenues of £150 million in 2015. Subsequent to the acquisition, Jim Heaviside from Chengdu Aerospace Superalloy Technology will join the Board of Gardner Aerospace. The transaction is subject to certain legal and regulatory approvals including approval of Gardner Aerospace's and Shaanxi Ligeance Mineral Resources Co., Ltd.'s shareholders. As of April 13, 2017, the French Economy Ministry approved the transaction. As on May 3, 2017, the transaction was approved by the shareholders of Shaanxi Ligeance Mineral Resources and no other conditions to the transaction remain. The transaction is expected to close on June 12, 2017. Jason Steen of Steen Associates Limited acted as financial advisor, while Maëliss Bourbon, Mark Bardell, Hubert Segain and Joseph Dennis of Herbert Smith Freehills LLP acted as legal advisor and KPMG International acted as accounting advisor to Shaanxi Ligeance Mineral Resources, the parent of Chengdu Aerospace Superalloy Technology in the transaction. Justin Griffiths of Powerscourt acted as PR advisor while Nathan Brown of Numis Securities and Lazard acted as financial advisors to Better Capital. Bonnie Kraus of Better Capital LLP acted as investor relation advisor to Better Capital PCC in the transaction. Simon Perry and Adam Campbell of Macfarlanes LLP acted as legal advisor for Better Capital PCC. King & Wood Mallesons LLP acted as legal advisor to Gardner Group Limited in the transaction. Pascal Roux, Romain Girtanner, Arnaud Troizier, Ariane Massonnaud and Anne-Kelly d’Amécourt of Watson Farley & Williams acted as legal advisor to Gardner. Deloitte UK provided financial, tax and vendor due diligence for Better Capital PCC Limited. Chengdu Aerospace Superalloy Technology completed the acquisition of Gardner Group Limited from BECAP Fund L.P. of Better Capital PCC Limited (LSE:BCAP) on June 12, 2017.