Howes Percival has acted for Stonbury (Holdings) Limited on its acquisition of Panton McLeod Limited, a water quality and maintenance company.
Founded in 1983 and with recent backing from private equity investor LDC, Stonbury works with UK water companies and environment agencies to provide low-carbon services to maintain, repair and refurbish critical assets, from drinking water provision to wastewater treatment.
Panton McLeod was established in 1994 and has over 30 years’ experience working in the highly regulated water industry, protecting water quality in the public, private and industrial sectors.
The Howes Percival team was led by Corporate Partner Tom Redman and advised Stonbury on a range of legal issues relating to the deal, including employment law and banking.
Anna Bithrey advised on various employment related issues. Mayoori Ravichandran provided detailed analysis of the company’s contractual arrangements. Haydon Simmonds advised on the banking aspects of the deal.
Chloe Bristow dealt with all company secretarial and governance matters including rectifying issues with the company’s statutory registers.
Howes Percival Corporate Partner, Tom Redman commented,
This is a pivotal moment for Stonbury as the Group’s first bolt-on acquisition since the sale to LDC. It was a fantastic deal for the Howes Percival corporate and private equity teams to have advised on, having originally advised on the sale of Stonbury to LDC.
“There were a number of legal complexities on the deal which required a detailed consideration of Stonbury’s existing structure and the negotiation of a licence renewal in relation to a US entity under common ownership of some of the ultimate sellers. Due to the sector, the team also navigated the national security and investment bill, securing the requisite approvals and consents to drive the transaction to a successful simultaneous exchange and completion.
For more information about our Corporate services, please click here.
The information on this site about legal matters is provided as a general guide only. Although we try to ensure that all of the information on this site is accurate and up to date, this cannot be guaranteed. The information on this site should not be relied upon or construed as constituting legal advice and Howes Percival LLP disclaims liability in relation to its use. You should seek appropriate legal advice before taking or refraining from taking any action.
To contact us, please fill out this form and we will get back in touch as soon as possible. Your personal data will be processed in accordance with our privacy policy which can be found here.
Thank you for your enquiry. We will respond as soon as possible.
