Browne Jacobson’s corporate finance team have acted for the shareholders of bituminous waterproofing product manufacturer and distributor Chesterfelt Ltd on the sale of Chesterfelt Ltd to TN International (TNi), owners of Scottish insultation manufacturer Superglass.
Browne Jacobson’s corporate finance team have acted for the shareholders of bituminous waterproofing product manufacturer and distributor Chesterfelt Ltd on the sale of Chesterfelt Ltd to TN International (TNi), owners of Scottish insultation manufacturer Superglass.
The multi-million pound transaction will allow TNi to extend its operation to the UK construction market and will strengthen Chesterfelt’s service offering and launch the business to a broader international market.
TNi which has headquarters in both Western Europe and North America is considered one of the world’s market leading providers of specialist roofing, proofing, waterproofing and insulating materials. The business supplies a broad customer base that cuts across residential, commercial and infrastructure sectors which includes schools and hospitals. The group’s Superglass operation is based in Stirling, Scotland and produces sustainable glass wool insulation, using recyclable materials.
Derbyshire based Chesterfelt which formed in 1978 and has a workforce made up of 30 employees, specialises in the manufacturing and distribution of bituminous waterproofing products and supports on roofing projects for domestic and industrial buildings.
The core Browne Jacobson was led by Manchester based senior associate Ryan Brown, together with assistance from Manchester based corporate trainee solicitor Harpinder Nahl and Nottingham based Legal Director Beth Dowson and associate Christian Burchardt who supported on the tax elements of the transaction whilst Manchester based employment lawyer Nicola Hollick advised on the employment aspects.
Ryan Brown said: “This transaction between two successful businesses in the manufacturing industry presents a host of opportunities. It allows a local business with a rich history in roofing products to continue to drive forward with its ambitions for growth.”
Tom Yeo, Managing Director of Chesterfelt commented: “We are delighted to conclude the transaction with TNi, which continues the success story of Chesterfelt. We are confident that the range and scale of TNi make it a strong fit that will propel the Chesterfelt business and its people to even greater advances in the future.
“We have worked with Browne Jacobson for years and, as ever, are really happy with the exceptional level of service we received from the team. They guided us through the transaction diligently, were always at the end of the phone or physically present if we needed them and made complex legal issues and principles easy for us to understand and therefore make a considered decision in relation to them. They had our full confidence throughout the process.”
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