Keystone Law has assisted pre-cast concrete products manufacturer CPM Group (CPM) in its £38.3m sale to hard landscaping specialist Marshalls.
The team, led by Worcester-based corporate lawyer Andrew Stilton, comprised Rima Gasperas, advising on property issues, Gloucestershire-based tax lawyer Tom Daltry, the Employment team’s Jacqueline McDermott, commercial lawyer Lyndsay Gough, and Keystone Law Northern Ireland’s John McMahon and JP Irvine who assisted in the transaction on disclosure and due diligence matters.
CPM Group is a market leader in the supply, manufacture and design of concrete drainage products for the construction industry. Its product portfolio includes concrete pipes, containment and inspection chambers, manhole covers, retaining walls, and other bespoke industrial concrete products. The business has worked on major infrastructure projects such as Hinkley Point A, HS2, and A14 Cambridge and had a reported revenue of £51.2m in the financial year ended December 2016.
The business is expected to trade, initially as Marshalls CPM, within the wider Marshalls Group.
Orbis Partners led by James Grenfell with support from Simon Lloydbottom and Steph Mersh provided corporate finance advice as part of the deal.
Commenting on the deal, Andrew Stilton said:
“I have acted for CPM Group Limited for many years and was thrilled that the Keystone team were able to work together with the directors to help to negotiate and complete such an exciting sale.”