The corporate finance department of Derby law firm Flint Bishop has helped French multinational Altrad, with a worldwide turnover exceeding €600M, increase its share of the UK scaffolding market by acquiring the Trad group of companies.
Among the largest privately-owned scaffolding groups in the UK, Trad has an annual turnover of around £45m. It focuses its contracting on London and the South East and supplies access and scaffolding equipment through branches across the UK.
As a result, it was an ideal acquisition for Altrad, which specialises in the manufacturing and sales of scaffolding, cement mixers and wheelbarrows and provides additional contracting services in the scaffolding sector.
Head of corporate finance at Flint Bishop, Ran Oren says: “As Altrad’s legal advisers, we carried out detailed due diligence and negotiated the purchase documentation. We managed this complex transaction, involving some 200 documents, for the acquisition of two separate groups with diverse shareholdings, trust and inter-company structures.
“Trad it is the fourth acquisition on which we have advised Altrad recently as part of a continued consolidation plan in the UK. By acquiring Belle group, NSG, Generation Hire & Sales, MTD Scaffolding and now Trad they have significantly extended the range and availability of their products and services and become one of the largest suppliers in the industry.”
Altrad Belle UK managing director Ray Neilson said: “This acquisition forms part of the bigger plan to provide the UK market with products and services from Altrad, which now owns more than 80 subsidiary companies.”
“Ran Oren, supported by Martyn Brierley, was excellent as has proved to be the case with each of these important acquisitions. Nothing was too much trouble and Ran always made himself available to work as a vital and integral member of the Altrad acquisition team. We look forward to working together in the future and highly recommend Ran’s services to others.”