National law firm Shoosmiths has advised the shareholders of BM TRADA Group on the sale of the company and its subsidiaries to London Stock Exchange listed company Exova Group Plc for approximately £22 million.
Shoosmiths' corporate partner Adam Dowdney led a team of corporate specialists, comprising solicitors Kiran Virk and Tom Potts. Additional specialist legal advice was also given by Tom Wilde (tax partner), Jamie Chambers (tax solicitor) Matthew Walker (real estate partner), Suzanne Burrell (pension partner) and Paula Rome (employment partner).
BM TRADA is a provider of certification and building products testing services employing 340 people across 16 countries with annual turnover in excess of £20 million and a pro-forma EBITA of about 10%.
Adam Dowdney said: 'This was a complex and challenging transaction, particularly due to the multi-jurisdictional nature of BM TRADA's business, which needed to be completed within a tight timescale. Everyone involved worked extremely hard, and we are delighted to have achieved this excellent result for our clients.'
He continued: 'We are lucky at Shoosmiths to have such a wide service offering so all aspects of a deal such as this can be covered within the team. There were a huge variety of different and unusual issues that cropped up on this deal that required innovative thinking as well as considerable support from the clients and the Grant Thornton team alike. This really was an all-round 'sell side' team effort and we wish all the BM TRADA shareholders every success for the future.'
Chris Gill, former chairman of the BM TRADA Group, commented: 'As we entered the home straight of this deal and the legal phase really kicked in, our team recognised what a good choice Shoosmiths had been. Their professionalism, efficiency, good humour and unfailing courtesy, were an enormous asset which ensured that the deal was completed successfully.'
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 has recently been awarded Law Firm of the Year at the Thames Valley Deal Awards.