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Browne Jacobson and Baker Tilly advise Shacklocks on secondary MBO

13 October 2014

National law firm Browne Jacobson and leading provider of accounting and business services, Baker Tilly, have successfully advised Shacklock Plumbing, Heating & Electrical and its management team on a successful MBO of the business.

The deal is being backed by investment from Allied Irish Bank, who provided a mortgage and commercial loan to support the acquisition and an overdraft facility for working capital.

Established in 1964, the Sutton-in-Ashfield based company provides plumbing, heating and electrical services to house-builders, housing associations and local authorities.

Browne Jacobson corporate finance lawyers Mark Hughes and Paul McCannah advised the management team led by Matt Sherlock and Damian Shacklock whilst the Baker Tilly team was led by Mike Quinn and Graeme Gladstone. Baker Tilly advised on the first MBO back in 2007 which saw the company ownership widened to the second generation of the Shacklock family and key members of staff.

Mark Rutherford and Paul Simpson of Gateley advised the sellers whilst Allied Irish Bank was advised by Peter Flowerday of Actons Solicitors.

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