Leading Midlands law firm Flint Bishop has advised French firm
Altrad on the acquisition of an £20 million turnover UK
scaffolding company.
French-owned building products company, Altrad has acquired the
entire share capital of Deeside-based scaffold contractor NSG U.K.
Ltd. The Deeside-based company was established as the Northern
Scaffold Group in 1971 and now employs 320 staff with revenues in
the region of £20 million.
The deal was completed by a team led by Ran Oren, partner and
head of corporate at Derby law firm Flint Bishop, who represented
Altrad. PwC also acted for Altrad, whilst Freeth Cartwright LLP's
Manchester office acted for the sellers of NSG U.K. Ltd.
NSG managing director Mike Carr will remain in charge of the UK
operation, which has expanded beyond its scaffolding origins to
offer thermal insulation, industrial cleaning and industrial
painting.
Montpellier-based Altrad specialises in the manufacture and sale
of scaffolding, cement mixers and wheelbarrows. The deal forms part
of Altrad's expansion plans in the UK scaffolding market and
follows its £7.1m acquisition of Beaver 84 earlier this
year.
Commenting on the transaction, Ran Oren at Flint Bishop
said:
"We are delighted to have worked with Altrad on this
acquisition, which forms part of Altrad's expansion plans in the UK
scaffolding market.
"This deal reflects the increasing number of overseas investors
and trade buyers who are currently targeting the UK market. Flint
Bishop is currently involved working on a number of international
deals involving German, American and French interests," added
Ran.
Mike Carr added:
"There is a tremendous opportunity for NSG UK to continue its
growth with the support of the Altrad Group.
Altrad chief executive Mohed Altrad added:
"This latest exciting acquisition provides a company with a
wealth of experience, highly professional with safety at the core
of the values and a strong, highly driven management team headed up
by Mike Carr as managing director.
"The acquisition forms part of a bigger plan to provide the UK
market with services and products from Altrad which specialise in
the manufacturing and sales of scaffolding, concrete mixers and
wheelbarrows, together with providing additional services in the
scaffolding sector.
The acquisition of NSG brings the total number of companies
owned by Montpelier based Altrad to 54.
For more information about Flint Bishop, please visit their
website: www.flintbishop.co.uk