National law firm Shoosmiths has advised on the sale of Chevron Traffic Management (Holdings) Limited (Chevron Traffic Management) to European private equity firm, Triton.
Chevron Traffic Management is the largest traffic management company in England and Wales and specialises in the provision of temporary traffic management in accordance with NHSS (National Highway Sector Schemes), providing support on a range of schemes. It was previously owned by long term investor Portchester Equity Ltd.
Triton specialises in investments into medium sized businesses across a number of European countries, focusing on companies which have the potential to create long-term value.
The deal was completed for the shareholders of Chevron Traffic Management, including the management team of Tim Cockayne, Mark Fleckner and Portchester Equity Limited. It required collaboration across Shoosmiths' practice groups.
Corporate partner Sean Wright led the deal, and was assisted by corporate senior associate Nina Smith and corporate paralegal, Molly Cullen. Real estate partner, Matthew Walker, advised on property due diligence and partner Paula Rome provided employment expertise. Advice on tax warranties and tax due diligence was provided by partner Dan Kennedy while senior associate Fleur Turrington provided expertise on litigation due diligence and disclosure.
Shoosmiths' Sean Wright, said: "It has been a pleasure to have worked on this deal for Portchester Equity and to have had the opportunity to utilise our broad and deep experience across the firm on such a transaction.
"Shoosmiths is in a fortunate position that it has great strength and depth of teams across its practice groups, so where large deals require specialist expertise, we have the relevant advisers within the firm."
David Harbord, of Portchester Equity, said: "We always have confidence that Shoosmiths can deliver on transactions because of their strength, depth and knowledgeable lawyers, particularly in M&A. They provided exemplary advice for Portchester Equity, and the shareholders, on the sale of Chevron Traffic Management."
Founded in 1997 and headquartered in Thame, Chevron employs more than 400 people at ten regional depots across the UK. The company has annual sales in excess of GBP65m.