Tees recently advised Grants of Shoreditch Limited (“Grants”) on the sale of its subsidiary Park Lane Bathstone Limited (“Park Lane”) to Stoneworld (Oxfordshire) Limited (“Stoneworld”). Grants of Shoreditch Limited specialises in the supply of high-quality stone to support the UK construction industry.
Park Lane ran the Park Lane Bathstone Mine near Corsham, Wiltshire which was acquired by Grants in 2018. Following a strategic decision by Grants to focus its quarrying operations in the Midlands and North of England, it was decided to sell the Park Lane mine. For Stoneworld, this acquisition will provide a springboard into the rapidly growing Bath stone market, allowing Park Lane to supply Bath stone to projects across the country, utilising the knowledge and experience gained from over two decades in the stone industry.
The Bath stone market has experienced significant consolidation in recent years, driven by strategic acquisitions aimed at enhancing production capacity and securing high-quality reserves.
The Grants Group is a multi-disciplinary and innovative provider of construction solutions. It has contributed to some of the country’s most prestigious building projects, including Hanover Square, the Westfield shopping centres in London, the British Museum, and The Shard.
The transaction team was headed by Corporate Partner Baljeet Kaur, who together with solicitor Alex Haines and Commercial Property Partner Jane Winfield, steered Grants through the sale process, ensuring that the company’s position was well protected at all times during the transaction.
Baljeet commented “It has been a pleasure supporting the team at Grants, and we wish them every success moving forward. We look forward to assisting them with their exciting future projects.”
Directors Michael Denyer and Jason Plumstead expressed their gratitude to the Tees team for their efforts in finalising the deal and acknowledged that “Bally’s expertise, guidance, and dedication were instrumental in achieving a smooth and successful transaction.”
