BPE Solicitors and Hazlewoods advise REACT Group PLC on recent acquisition
The Corporate team at BPE Solicitors and the Hazlewoods Corporate Finance team have recently advised leading specialist cleaning, hygiene and decontamination company, REACT Group PLC, on its acquisition of LaddersFree Ltd., in a deal worth £8.5 million.
The acquisition of the commercial window cleaning business will enable REACT to diversify its service offering through expansion into complementary markets and is the next step in the AIM-quoted company’s strategy of building a leading industry position through organic growth and via strategic acquisitions.
The deal was guided by BPE Corporate Partner, Louise Grzasko, and Associate, Kathryn King, who oversaw the legal elements of the acquisition, including drafting the transaction documents and undertaking legal due diligence, while James Whittaker, Director at Hazlewoods, carried out financial and taxation due diligence and advised on the completion accounts mechanism.
BPE Solicitors also advised REACT on a £5.5 million placing of shares with new and existing investors to raise funds to finance the acquisition.
Louise at BPE said “Having worked with the team at REACT for many years, it was a pleasure to work with them on another successful transaction and to see the company going from strength to strength. We look forward to working with REACT again in the future”.
James at Hazlewoods added “Delighted to have supported REACT on this transaction, which was an attractive deal for all concerned. I am sure that LaddersFree will have a bright and prosperous future with REACT's backing."
Shaun Doak, CEO of REACT, commented “This is an exciting opportunity for REACT as we add LaddersFree’s specialist service to our portfolio. Having worked with Louise and the team at BPE for many years, we knew we could expect excellent legal advice and felt confident they would identify any hurdles before they became significant issues”.
He continued, “The team at Hazlewoods was second to none, with their efficient support throughout the process being invaluable."
To discuss how BPE Solicitors can support your business, please contact Louise Grzasko or another member of the BPE Corporate team on 01242 224433 or email louise.grzasko@bpe.co.uk.
If you are considering buying a business, selling your company or are looking for ways to finance your growth plans and would like to find out more about the process, Hazlewoods expert-led Corporate Finance team can help. Please contact James Whittaker on 01242 680000 or email james.whittaker@hazlewoods.co.uk.
These notes have been prepared for the purpose of articles only. They should not be regarded as a substitute for taking legal advice.