Burges Salmon’s Corporate team has advised long-standing client Taylor Maxwell Group (2017) Limited, one of the UK's leading suppliers of timber and cladding headquartered in Bristol, on its conditional sale to Brickability Group plc, for consideration of up to £63m. Completion of the acquisition is conditional upon, among other things, the passing by shareholders of Brickability of certain resolutions at a general meeting to be held later this month.
This follows a successful strategy of targeted organic growth by Taylor Maxwell and its acquisition by Brickability will bolster Brickability's leading position in UK brick distribution.
Taylor Maxwell's Group Finance Director, Mark Phillips, comments: “Taylor Maxwell's management team view the transaction as an exciting new chapter in the history of the business, one that they feel will benefit its employees, customers and suppliers alike. We are very proud of what has been achieved over the last sixty years and how the business has developed into the company it is today through a series of management buyouts. Growth in recent times has been organic and this transaction is seen as a great opportunity to develop the business through wider investment as part of a larger organisation.
“Taylor Maxwell has enjoyed a long-standing relationship with Burges Salmon. We’ve worked with the team now for over 20 years and during that time they have helped us with a range of deals, not least our corporate restructuring in 2017 and a similarly significant transaction in 2006. Burges Salmon’s assistance with this latest deal, which was both complex and time-critical, played a key role in getting the transaction to completion.
“The team’s exceptional service over the years has helped with the evolution of the group and we are grateful for their ongoing commitment.
“Special thanks go to the Burges Salmon team who advised us on the deal, in particular to Corporate partner Richard Spink supported by senior associate Julie Book and associate Amy Carr.”
The Bristol team of Grant Thornton provided advice in relation to both Corporate Finance (Andy Charter) and Tax (Richard Marsh).