13 Mar 2012 | 02:08 pm |
International law firm Pinsent Masons has advised Lupus Capital plc on the sale of the Group's Oil Services Division, Gall Thomson Environmental Limited, to Copper Bidco Limited (a company set up by Phoenix Equity Partners) for a total cash consideration of £75 million.
The disposal allows Lupus to become a focused leader in the supply of components to the door and window industry worldwide through its three principal businesses – Amesbury, grouphomesafe and Schlegel International – serving the US, UK and Ireland, and Rest of the World. The Group has manufacturing operations in eight countries worldwide and is traded on the AIM Market of the London Stock Exchange.
The Pinsent Masons team advising Lupus Capital was led by corporate partners Alison Starr and Andrew Black assisted by corporate solicitors Chris Neal and Chris Watts and Jon Robinson (tax). Lupus Capital's financial adviser is the Leeds office of Rothschild (Stephen Griffiths and Matthew Jowett). The buyer, Phoenix Equity Partners, was led by John Rastrick and Barry Robinson from the Phoenix Equity Partners Leeds office.
Jamie Pike, Non-Executive Chairman of Lupus, commented: “The disposal of Gall Thomson marks the completion of the restructuring of Lupus as a focused supplier of components to the door and window industry worldwide. The Group now has the financial flexibility to achieve its strategic goals and to accelerate the development of the Building Products Division. The Board believes the Group’s increased focus on Building Products will yield significant returns for shareholders over the medium term."
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