Goodman Derrick advises Safety & Security Barrier Holdings Limited

Goodman Derrick’s corporate department has advised Safety and Security Barrier Holdings Limited (SSBHL) on the purchase of the entire issued share capital of Hardstaff Barriers Limited.

Hardstaff Barriers supplies and installs concrete barriers that are most commonly used in applications such as motorway repairs and the protection of vulnerable buildings and sites.

Although the business itself was profitable, it was part of a wider group which experienced financial difficulties, resulting in administrators being appointed over various group companies including the parent company of Hardstaff Barriers.

Paul Webb of Goodman Derrick commented: “Congratulations go to SSBHL on its acquisition of this successful business. As is usual for this type of deal we were working toward a very challenging completion deadline. Not only did our client have to agree and finalise a sale agreement, but shareholder equity and loan arrangements had to be concluded with outside investors and the management team, employment arrangements with key management had to be finalised, three sets of secured lenders to the selling group had to release their security or agree the terms of their future lending, the client’s joint venture partner had to agree a linked deal for the acquisition of other assets from the administrators, and various customer agreements had to be re-negotiated.”

The Goodman Derrick corporate team consisted of Paul Webb, Rebecca Gardner, Chris Smith and Freya Marks. Rose Branson and Daniel Shein assisted on employment and property issues respectively.

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Contact

For more information, please contact James Caulfield on +44 (0)20 7421 7968 or at jcaulfield@gdlaw.co.uk.