International law firm Trowers & Hamlins has advised Five Tech Ltd, a leading technology, computing and gaming retail company, on its recent acquisition of Box Limited’s intellectual property and other assets.
Box Limited is a leading gaming PC retailer and in March 2022 it was acquired by Tactus Group at a time when its turnover was c £100m. However, on 19 January 2024 Box entered Administration following a series of financial issues, including high profile litigation against the former owners.
As part of the acquisition, Five Tech Ltd will relaunch the popular online technology store, www.box.co.uk, under its own brand. Five Tech has also been able to offer positions to a number of the Box team who were made redundant when it entered Administration.
Martyn Kolankiewicz, Trowers' Partner, said:
"We are delighted to have had the opportunity to work with Five Tech on this acquisition and structuring of the Box's online platform and intellectual property assets in what was a fast moving and complex deal. We wish Asad and his team every success in relaunching Box.co.uk as a leading online tech retailer in the UK market."
Asad Hussain, of behalf of the board of Five Tech Ltd, said:
“The Trowers team provided excellent advice and support throughout the transaction and we are excited about the possibilities this acquisition brings. Box.co.uk has a huge brand and a loyal customer base, and we are committed to continuing its legacy while introducing new innovations.”
The acquisition was spearheaded by Corporate Restructuring Partner Martyn Kolankiewicz who received support from a dedicated team at Trowers including Insolvency Partners, Navinder Grover and Katie Farmer.
