National law firm Shoosmiths has advised Evolution Manufacturing Limited (Evolution) and its shareholders on the sale of the business and assets of Evolution to the Masco UK Window Group (Masco) for an undisclosed sum.
Evolution, founded in 2004, has established itself as a pioneer in the manufacture and supply of timber-alternative windows and doors, and is widely recognised as a market leader for quality, service and product innovation.
This acquisition represents a strategically complementary move by Masco, the UK's largest PVCu window and door fabricator. The addition of the Bedfordshire based business will strengthen Masco's position as an industry leader and supports its ambitious growth strategy.
Shoosmiths corporate partner, Sanjeev Sharma, led the deal and was supported by associate, Claire Checketts, trainee solicitor Aleksandr Bosch and paralegal James Grinstead. Suzanne Folbigg of the real estate team assisted.
Managing director of Evolution, Surgit Singh, said: 'This is an incredibly exciting opportunity for us. We will have the full support of Masco's management team to grow and develop the innovative products and strong marketing programs necessary to continue to be successful in our industry. We will also benefit from Masco's extensive resources and from our shared commitment to the profitable growth and success of our customers.
'The legal advice given to us by Shoosmiths was fantastic. Sanjeev and the team were very well equipped with the skills and expertise to drive through this transaction. Not only do they have an outstanding understanding of the law, but they are commercially aware, understand a client's business and are very pro-active.'
Shoosmiths' Sanjeev Sharma, said: 'It was a pleasure to advise Evolution and its shareholders. This was a very good deal for all involved.'
Shoosmiths' corporate team has advised public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths work with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.
The national corporate team has been placed second by deal volume in Experian's UK Deal Review and Advisor League Table and this month won Law Firm of the Year at the M&A Awards 2015.