£40m plus deals in last three months
Wake Smith Solicitors has completed a number of corporate deals worth a cumulative value of more than £40m in the last three months.
The high profile deals include the acquisition by the Red Industries group of a non-hazardous landfill business, operating as Walleys Quarry, from Tarmac, a member of the CRH PLC Group of companies.
The landfill business takes mixed non-hazardous commercial and industrial waste and represented a strategic acquisition to Red Industries allowing its group to offer the collection and disposal of a wider range of waste streams to existing clients.
The complex legal work, which evolved over 12 months, brought together a team from Wake Smith’s corporate and property practices and included advice on the purchase of assets and refinancing, and the strategy of revisiting and re-negotiating environmental bonds.
Wake Smith’s team, including John Baddeley, director Lisa Davison and associate Rebecca Robinson, worked closely with Castle Square Corporate Finance, HSBC and environmental consultants Egniol on the project.
John Baddeley, director at Wake Smith, said: “To have worked on such high profile and valuable deals as these demonstrates the depth of experience we have at Wake Smith.
“The gross value of the deals, which stands at more than 40 million pounds, is great for our reputation both regionally and nationally. We are continuing to win new business and have a strong pipeline of deals for the next quarter.”
Another high profile deal for the team was the acquisition by Duro UK Limited of Wales-based Pegasus Diamond Blades, supported by funding from Royal Bank of Scotland.
John Baddeley acted on behalf of Duro UK Limited and RBS.
Duro UK Limited, a Sheffield-based supplier of synthetic diamond tools and power tool accessories bought Pegasus UK Limited and Pegasus Industrial Products Limited, which trade as Pegasus Diamond Blades.
Pegasus Diamond Blades is located in Pontypridd and supplies the tool and plant hire, construction resale, power tool resale and construction sectors. Duro UK Limited has its UK head office in Dinnington, Sheffield, and offices and warehousing in Antwerp, Belgium, under its sister company Duro Europe.
Paul Morewood, managing director at Duro UK Limited, said: "We are an innovative thinking power tool accessory specialist and the completion of this deal helps us to expand our customer base across the UK.
"We are looking forward to working with the team at Pegasus Diamond Blades and are also grateful for the backing we have received from the Royal Bank of Scotland and Wake Smith."
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