24 Jul 2012 | 10:35 am |
International law firm Pinsent Masons has advised the management team of Leadbitter on the company's acquisition by Bouygues Bâtiment International.
The Leadbitter Group, which consists of Leadbitter and Denne, employs 700 people and recorded a turnover of £428 million last year. The construction company specialises in the housing sector, and operates across south England and south Wales.
The Bouygues Construction subsidiary Bouygues Bâtiment International has taken 100% ownership of the Leadbitter Group after purchasing the remaining 49% from the Leadbitter management team. The Directors of the Leadbitter Group will retain important operational roles within the business.
Bob Rendell, Leadbitter Group Chief Executive, said: “I am delighted that we have completed this transaction and placed the ownership of the Leadbitter Group within such a financially robust and forward-thinking construction business.”
The Pinsent Masons deal team was led by Corporate Partner Andrew Hornigold. Commenting on the deal Andrew said: "We have really enjoyed working with Bob and the team at Leadbitter. I am sure the business will go from strength to strength under Bouygues ownership.
For Pinsent Masons, the transaction allowed us to combine our deep sectoral knowledge as the leading construction lawyers in the country and our strong track record in M&A to bring the deal to a successful conclusion in what remains a challenging climate for deals such as the Leadbitter transaction."
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