Wake Smith completes £40m worth of deals in three months

Wake Smith completes £40m worth of deals in three months

Sheffield’s Wake Smith Solicitors has got off to a stellar start in 2017 after completing corporate deals worth over £40m in the last three months.

The high-profile deals included 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.

“Importantly,  the calibre of deals that we now handle, far exceeds the level of work we have done in the past, which is great for our reputation regionally and nationally.”

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.

Baddeley acted on behalf of Duro UK and RBS.

Duro UK Limited, a Sheffield-based supplier of synthetic diamond tools and power tool accessories bought Pegasus UK and Pegasus Industrial Products, which both 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 has its UK head office in Dinnington, Sheffield, and offices and warehousing in Antwerp, Belgium, under its sister company Duro Europe.

Baddeley added: “Our considerable sector knowledge includes manufacturing, professional services, healthcare, banking, IT/IPR and is supported, where relevant, by colleagues in commercial property, employment, regulatory, trusts and dispute resolution.

“We pride ourselves on an appreciation, not just of the legal issues, but also the underlying commercial objectives of businesses.”