LK Shields Solicitors acted for AEP Networks Limited (AEP) in the sale of the entire issued share capital of AEP to Ultra Electronics Holdings plc (Ultra) for an initial cash consideration of $57.5 million. A further sum of up to $17.5 million will be paid to the vendors of AEP based upon financial results to 31 December 2011.

AEP is a leading supplier of secure network communication solutions with more than 5,000 blue chip and government customers in over 60 countries.

Ultra is a FTSE 250 UK listed company and operates as an umbrella of specialist businesses designing, manufacturing and supporting electronic and electromechanical systems,
sub-systems and products for defence, security, transport
and energy applications worldwide.

The transaction completed on 28 September 2011.

Partner Richard Curran led the team at LK Shields Solicitors with assistance from Associate Zelda Deasy of the Business Department.

October 2011.