Wake Smith’s growing company commercial team reinforced its status as a leading legal services provider by picking up a regional award for its work.
Director in the Company and Commercial team John Baddeley acted on behalf of the management team in connection with the management buy-out (MBO) of Staffordshire-based Red Industries Limited.
The MBO of the rapidly expanding waste management company won mid-market deal of the year at the Yorkshire Business Insider South Yorkshire Dealmakers Awards.
Other regional parties involved included Castle Square Corporate Finance, Freeths and Smith Cooper with funding provided by Allied Irish Bank.
John Baddeley said: “The deal was structured through the creation of a new holding company to acquire the existing group and associated companies, which saw the exit of two major shareholders, each separately represented, together with the refinancing of its existing banking facilities with new funders, with security also being given to the exiting shareholders in respect of the deferred elements of the consideration.
“We worked closely with the chief executive of Red and the management team and were delighted to have assisted in successfully completing the MBO. We are confident the business will thrive under the new management."
Associate solicitor Rebecca Robinson assisted John in advising, preparing and negotiating both the substantive and ancillary documentation.
Red Industries operates under key environmental permits and has handled the disposal of hazardous and non-hazardous waste and recyclable materials across the UK for ten years. It operates from a head office in Burslem, Stoke.
For further information on how Wake Smith’s specialist company commercial team can help your business please call 0114 266 6660 or email [email protected]
