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Flint Bishop Advises Altrad on Acquisition
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Flint Bishop’s corporate department has advised International scaffolding, cement mixer and wheelbarrow specialist Altrad on the acquisition of £37m turnover company Generation UK Limited.
The Derby law firm assisted Altrad throughout detailed negotiations and a complex deal structure to acquire Generation, which specialises in non-mechanical access systems, safety products and builder’s equipment. The acquisition was central to Altrad’s strategy to expand its product and service offering within the UK.
With around 220 employees and an annual turnover of around £37m, Generation’s national supply network will complement Altrad’s existing infrastructure. It will also extend its product offering in terms of scaffolding, access equipment, groundwork and fencing.
Ray Neilson, Altrad Belle UK’s Managing Director, worked closely with Flint Bishop on the acquisition. He says: “Flint Bishop, through the expert skills of Ran Oren have yet again proved to be highly effective partners to deliver the results required for our acquisition activities. Flint Bishop acted as if they were part of the Altrad Team with absolute professionalism and total flexibility. They showed what they are made of with a simultaneous double acquisition closure requiring a final non-stop session of over 40 hours. I would highly recommend the services of Flint Bishop.”
Ran Oren, Flint Bishop partner and head of corporate finance, says:”This transaction was fairly complex and carried out within very tight timescales. Both Altrad and the Generation management team have an excellent opportunity to grow the business in line with the Group’s plans for the UK market.”
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