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Shoosmiths advises on £6m sale of SRS Holdings

07 July 2008

A corporate team from national law firm Shoosmiths has advised the shareholders of Derbyshire-based SRS Holdings Limited on the £6 million sale of its entire share capital and associated overseas subsidiaries to Goodwin plc.

SRS is a holding company of Specialist Refractory Services Limited, which makes powders for the investment casting market and industrial lost wax casting industries. It also has interests in joint venture companies based in Thailand and China. 

The Shoosmiths team comprised of corporate partners Alastair Peet and Peter Seary, corporate solicitors John Finnemore and Kelly Prestidge.

SRS’s former managing director, Mr J Guy Davis, will stay on as joint managing director, and SRS’s sales director, Mr Huw Davis, will become sales director.  John, Richard, Simon and Bernard Goodwin, and Dr Mike Palin will be appointed directors within the acquired group.

Chairman of Goodwin PLC, John Goodwin, said: “This deal is about resource and integration, with both groups benefiting from each others' skills. Customers will benefit from economies of scale and from a combination of independent research and development enabling those areas with high GDP to be better served in the coming years.”

Goodwin PLC was advised by Newcastle-under-Lyme-based firm Hacking Ashton and internationally by Baker & McKenzie Ltd.  SRS were advised by Tenon with David Hoose providing accountancy and business advice and Jacky Kinsey providing tax advice.

 

For further information please contact:
Name: Sophie Llewhelin
Phone: 08700 864127
Email: sophie.llewhelin@shoosmiths.co.uk