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12 Mar 2026

AKD Advises TDR Capital on £275 Million Carve-Out Acquisition of Escode from NCC Group

"AKD acted as Dutch counsel to TDR Capital LLP on its carve‑out acquisition of Escode, a UK‑based software escrow and verification business, from NCC Group plc for GBP 275 million. The deal, subject to customary regulatory and closing conditions, sees funds managed by TDR take Escode as NCC completes the divestment of non‑core operations. The AKD M&A team advising on the transaction comprised Lennart Crain, Ralph Ledeboer and Florine Goemans."

AKD acted as Dutch counsel to TDR Capital LLP in the transaction. The deal is a carve‑out acquisition by funds managed by TDR Capital of Escode, a UK‑based software escrow and verification business, from NCC Group plc for GBP 275 million; the transaction is subject to customary regulatory and closing conditions. Escode provides secure escrow of source code and related materials to ensure technology resilience for business‑critical users. Participating lawyers from the law firm named in the press release: - Lennart Crain (Corporate M&A) — seniority not specified in the press release - Ralph Ledeboer (Corporate M&A) — seniority not specified in the press release - Florine Goemans (Corporate M&A) — seniority not specified in the press release
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