Tag: Acquisitions and disposals

Based in Basildon, Enterprise Adhesives has manufactured a wide range of adhesives and glues for its UK customers and distributors for over 35 years.

Pafra Adhesives Limited, owned by Gluecom UK Limited and headquartered in Belgium, has produced various industrial adhesives since 1959. The acquisition will strengthen Pafra’s and Gluecom’s presence and manufacturing business in the UK market.

Tees Law assisted the shareholders, Ian Harvey and Andrew Harvey, with the Enterprise Adhesives sale, advising on the corporate, real estate and various legal aspects. Lucy Folley, partner and head of Tees Law Corporate and Commercial department, said: “We were delighted to support the shareholders with the sale of Enterprise Adhesives and are pleased to see the growing business opportunity that presents, with Pafra’s reputation in the adhesives industry.”

Commenting on the deal, Ian said: “Enterprise Adhesives is a successful regional business, and I’m pleased that by joining Pafra, one of the market leaders of the UK adhesives, owned by Gluecom group, the company will continue developing its business and extending variety of adhesives products.”

The advisory team of Tees Law included Partner Lucy Folley and solicitors Nana Maisuradze and Nana Poku, trainee solicitor Alex Haines. Partner Daniel Fairs advised on real estate matters.

Ryan Symonds from FRP Advisory advised the Enterprise Adhesives shareholders on financial advisory matters.

Tees are delighted to have advised the shareholders of Compliance Labelling Solutions (CLS) on its sale to the Asteria Group (Asteria). Based in Braintree, Essex, CLS is a BRC and ISO-certified label and tag manufacturer with over 40 years of experience serving clients across a range of different sectors. The business is highly respected in the industry and is known by its customers for high quality levels of service & product.

Asteria is an international group that produces a wide range of printed packaging materials such as labels, flexible packaging, and boxes. The group has grown rapidly and currently has thirty-three production sites in Belgium, the Netherlands, France, Germany, Denmark, Spain, UK, Estonia, Ireland, and Finland. This is Asteria’s third acquisition in the UK, following CS Labels and Berkshire Labels. The transaction will allow the Asteria Group to consolidate its footprint both in the UK and the food and beverage area.

After acquiring the company through a management buy-out back in 2015, the shareholders of CLS were looking to find the right partner to take the business forward while providing stability for its employees and customers. Asteria proved to be a perfect fit, as, despite its size, it maintains the SME spirit and will enable CLS to continue guaranteeing fast delivery times and excellent service levels to its customers. The opportunity to share knowledge and skill amongst the group also presents a significant opportunity for CLS under the ownership of Asteria. CLS will continue to be led by its current management team, Matt Day, and Geoff Nunn.

The Tees corporate team advising on the transaction was led by Partner Lucy Folley, with assistance from Associate Natasha Bhandari and Solicitor Nana Poku.  Senior Associates Lucy Beck and Katherine Jameson provided support on the property and employment aspects of the transaction respectively.

Commenting on the transaction Matthew Day, Director, CLS said, “The expertise and professionalism of Tees made what was a daunting task manageable and painless. With a knowledgeable team on hand working hard on our behalf, it helped achieve a deal that satisfied both sides and ensured the continued success of Compliance Labelling Solutions.”

Geoff Nunn added, “It was a pleasure working with Tees, the level of advice received was excellent and the whole team worked extremely hard to ensure tight schedules were met throughout the sale process.”

Lucy Folley commented “We were delighted to support Geoff and Matt on the sale of their highly successful business and guide them through the legal process to achieve a successful outcome.  The sale is excellent news for all parties involved and we wish everyone involved all the best for the future”

Rob Dukelow-Smith, Director Forward Corporate Finance who, together with Amie Goodland, assisted Geoff and Matt in finding the buyer commented, “It was a pleasure to assist Matt & Geoff on the sale of a really well-run business to an excellent acquirer. The positive outcome all around is a testament to all their hard work, and we wish Matt & Geoff every success with their new owners.”

Tax advice for Matt & Geoff was provided by David Richardson and Christine Ingram at Croucher Needham.

Tees has advised the sellers of Savage Haulage Limited (Savage Haulage), one of the largest temperature-controlled storage and logistics businesses in East Anglia, on the sale of Savage Haulage to The Ice Co Storage & Logistics Holdings Limited (Ice Co).

Savage Haulage has been a family business for 60 years and has been managed in recent years by brothers Martyn and John Savage. It has sites in both March and Thetford and, in 2021, Savage Haulage generated £5.9 million in turnover. Ice Co operates from sites in Newcastle, Preston and Doncaster, and provides storage, logistics, blast freezing and tempering services. Ice Co’s acquisition of Savage Haulage represents a sizeable step forward for Ice Co in terms of its geographic reach nationally.

Martyn Savage, joint MD of Savage Haulage commented: “The Ice Co are a family company with the same values and ethics as ourselves. They are committed to continuing the existing operations retaining our existing personnel in the same positions and creating further opportunities in East Anglia as they take the business forward.”

Lucy Folley, Partner at Tees Brentwood,  Baljeet Kaur, Senior Associate at Tees Brentwood, and other members of the Corporate team at Tees advised Martyn Savage and the other owners of Savage Haulage on a suite of transaction documents, including a complex share purchase agreement and intricate disclosure letter. Lucy was practical in her approach to ensuring that the owners of Savage Haulage understood the legal implications of their commercial decisions and utilised her deep knowledge of the logistics industry to navigate any potential issues arising. The Corporate team worked seamlessly and collaboratively with the Commercial Property team, which was led by Senior Associate Daniel Fairs.

Lucy Folley commented: “We are delighted to have advised the sellers of Savage Haulage Limited on such a monumental transaction in the transport and logistics industry. The sector has faced inflationary challenges in the form of rising fuel, energy, and labour costs. Following a slowdown in consolidation during the pandemic, we are now seeing a strong resurgence in interest in mergers and acquisitions as businesses seek to capitalise on strategic opportunities and enlarge their geographical footprints. Tees is known for acting for both purchasers and sellers in the transport sector; this transaction showcases both the firm’s deep logistics expertise and the sheer importance of M&A deals we are advising on.”

Tees collaborated with Price Bailey, advising the sellers of Savage Haulage on the financial and accounting aspects of the multi-million-pound transaction.

Tees has advised long-standing client Moralis Group Limited (Moralis) on the sale of G.B.N Services Limited (GBN)to Reuse Holdings Limited, part of the wider Sortera Group (Sortera).

GBN was incorporated in 1986 and has grown to become the leading skip hire, recycling and waste company for construction, commercial and household customers across the Southeast of England. GBN has a strong regional presence supported by established UK-wide partners.

Garry Hobson, Managing Director of GBN, said: “This transaction marks an important milestone in what has been a very successful journey for GBN so far, and I am happy that we are now part of Sortera. Sortera shares many of the same success factors as GBN with an entrepreneurial vision, a passion for customers and a strong focus on sustainability. They are a strong partner which will allow for further investment into and development of GBN, which will benefit both the market and our end customers.”

Sortera is a leader in the collection, recycling, processing and sale of residual products from the building and construction sector within northern Europe. Having acquired London-based O’Donovan Group Limited in June 2022, Sortera’s acquisition of GBN represents an additional strategic, geographic investment for the company in the south of England.

Sebastian Wessman, CEO of Sortera, commented: “Sortera is very excited to welcome GBN Services to our UK operations. GBN has built a very strong reputation in the London market with a strong focus on customers, quality and sustainability led by a passionate and experienced team of employees. GBN’s way of working is very much aligned with Sortera’s core values, and we are very happy to add them to the growing Sortera family.”

Corporate Partners Lucy Folley and Baljeet Kaur, with support from the wider Tees Corporate team, advised Moralis on the corporate aspects of the transaction. With sites in Edmonton, Rochford, Southend, Harlow, and Uxbridge, there was a sizeable commercial property aspect of the sale of GBN. Partner Aaron Cane and Senior Associate Lucy Beck advised Moralis on the real estate components of the deal.

Lucy Folley said: “We are proud to have supported and advised long-standing client, Moralis, on this substantial transaction in the commercial recycling and waste disposal sector. Our lawyers have the knowledge and expertise required to truly understand our clients’ industries, which allows us to navigate them through the thorniest of their legal issues and provide practical, tailored solutions at every given opportunity. It was a pleasure to work once again with the Moralis team and we wish them every success in the future.”

Tees worked alongside LB Group, which provided advice to Moralis on the financial and accountancy aspects of the transaction. Having acted for GBN Services for over a decade, LB Group and their Corporate Finance team headed by Stuart Sheldrick were pleased to be involved in the sale of GBN Services.

Stuart Sheldrick said: “It was great to be part of the team working closely with the sellers Moralis Group spearheaded by Soliman Motala, and the team at Tees Law consisting of Lucy Folley and Baljeet Kaur, to ensure a successful execution of the sale to enable Moralis Group to develop their strategic plan.”

White & Case LLP and Eight Advisory acted for Sortera on the multi-million-pound deal.