Nottingham dealmakers act on worldwide heating deal
A team of Nottingham lawyers have advised on a deal that will see a heating giant snap up a Milton Keynes firm.
Browne Jacobson has advised Baxi Heating, which has a training site in Nottingham, on its acquisition of Packaged Plant Solutions (PPS) for an undisclosed consideration.
Corporate finance partner Mark Hughes and solicitor Sam Sharp, based at the firm’s Nottingham office, advised Baxi Heating.
The acquisition will see PPS become a part of Baxi Heating’s commercial business which already includes the Andrews Water Heaters, Potterton Commercial and Remeha brands.
Founded in 1866 Baxi Heating is a part of the BDR Thermea Group, manufacturer and distributor of solutions and services for heating, cooling and hot water. The Group operates in more than 70 countries worldwide and employs over 6,400 people. In the UK Baxi Heating operates from five sites with its headquarters based in Warwick.
Adam Turk, managing director of Baxi Heating’s commercial business, said: “The packaged plant room market offers significant opportunities – making this a really exciting acquisition.
“While we are already active in this market, acquiring Packaged Plant Solutions will transform this part of our business, strengthening our offer to customers.
“We have enjoyed a long and successful partnership with Packaged Plant Solutions, and already work exceptionally well with its team.
“We’re looking forward to integrating its specialist skills and capabilities into our commercial business and to investing to enable the business to fulfil its potential.
“Browne Jacobson know our business really well and throughout the process we received sound, practical advice from the team which ensured the deal ran as smoothly as we could have hoped.”
Mark Hughes, corporate finance partner at Browne Jacobson, added: “The deal to acquire Packaged Plant Solutions will add further strength in depth to what is already a very impressive portfolio of commercial brands and we’re delighted to have advised Baxi Heating on this important strategic acquisition.”
Packaged Plant Solutions will continue to operate from its Milton Keynes base post completion.
