BWB’s cross departmental M&A team acted for FM Conway Limited (“Conway”) on its acquisition of Berkshire Macadams Limited (“Berkshire Macadams”).
Conway is a leading independent infrastructure services company delivering vital services in transportation, the built environment and open spaces for communities and business. The company’s turnover in the financial year ending 31 March 2016 was £247.8 million. Conway is ranked number 72 in The Sunday Times Grant Thornton Top Track 250 2016.
Berkshire Macadams manufactures and supplies high quality surfaces including bituminous macadams and asphalt. It employs 13 staff and operates two asphalt plants at Reading, Berkshire and Aldershot, Hampshire. The acquisition is part of Conway’s continuing strategy to ensure it is well positioned to boost asphalt supply for highways customers operating on both the strategic and local road networks in and around the M25. The two new plants, which produce a total of 80,000 tonnes of asphalt a year, will complement and strengthen Conway’s existing facilities at Erith and Heathrow. The transaction involved the complex pre-sale reorganisation of the business of Berkshire Macadams.
Commenting on the acquisition, Michael Conway MBE, Conway’s CEO said: “This acquisition will strengthen our production capability and ability to provide customers with greater network coverage and the added security that comes hand-in-hand with on-demand access to high-quality materials. These two new plants will build on the success of our Erith and Heathrow facilities which have set a benchmark for asphalt recycling, ensuring that our clients can leverage the environmental and economic benefits which come from resource efficiency.”
Ron Woodland, Conway’s Legal Director said: “We were extremely pleased with the efficiency and professionalism of the BWB legal team headed by Stephen Callender and Mark Tasker. The whole team worked tirelessly throughout the process whilst their attention to detail was maintained notwithstanding the tight timetable.”
The acquisition is BWB’s first for Conway and is illustrative of our team’s ability to work on complex M&A transactions and our strength in group restructuring.
Lawyers: Stephen Callender (Corporate Partner) and Mark Tasker (Head of Corporate) led the cross-departmental team which also comprised Cordelia Sanger and Gemma Boore (Corporate), Mark Traynor and Christina Tennant (Real Estate) and Louise Rea (Employment).
Posted on 12/01/2017 in Corporate & CommercialBack to Knowledge