Newcastle legal firm's support proves a real gem

Feb 10 2010 by Peter McCusker, The Journal

NEWCASTLE-based law firm Watson Burton has advised its New York Stock Exchange listed client Federal Signal Corporation on the US $17.2m (£11m) acquisition of Aylesbury-based Diamond Consulting Services.

Federal Signal is a world leader in environmental, safety and transportation solutions and Diamond Consulting specialises in vehicle classification systems for road tolling and other intelligent transport systems.

It provides the technology to detect the type of vehicles using toll roads, so that when they pass through an automatic checkpoint they are billed correctly.

Gillian Hall, partner and head of corporate law at Watson Burton and intellectual property partner Ed Meikle worked with Federal Signal Corporation throughout the transatlantic transaction to acquire Diamond Consulting Services.

Ms Hall said: “Working with UK and US companies concurrently to conclude a deal requires a great deal of co-ordination and close liaison and an ability to understand and explain the differences between two otherwise similar legal systems. We are delighted that the deal has completed successfully, to the benefit of the companies, their customers and shareholders.”

Paul Henry, Federal Signal Corporation’s in-house corporate counsel, said: “Watson Burton’s understanding of our business and ability to respond quickly helped the deal progress extremely well. Gillian Hall and her colleagues were important, valued members of our team.”

Diamond Consulting will operate as part of the Public Safety Systems business unit of Federal Signal's Safety & Security Systems group.

Federal Signal’s president and chief executive officer William Osborne said: “This acquisition is an important step in our strategy of driving growth through our public safety systems platform. ”