Michelmores advises Magnet Networks on its disposal of Velocity1 to Quintain

Michelmores' Corporate team has advised Magnet Networks Limited on the disposal of its majority share in Velocity1 Limited to its long-term joint venture partner, Quintain.

Magnet Networks, headquartered in Ireland, is a leading Telecommunications, Data Connectivity and Security Services provider, providing solutions to homes, businesses and enterprise customers in Ireland, throughout Europe and beyond.

Through its investment in Velocity1, Magnet helped deliver connectivity to Quintain's Wembley Park development which, upon completion, will feature 5,000 new rental homes and 1m sq feet of commercial office space.

The Michelmores corporate team was led by Edwin Richards, with support from Katie MacLean and Hollie SuddardsTom Torkar and Philippa Collison provided commercial contract advice.

Allen & Overy acted for Quintain.

Conor O’Reilly, CFO of Magnet Networks said:

"We found Edwin and the team at Michelmores to be extremely helpful and professional at all times, and we simply couldn’t have done this without them.”