Advisory team behind £29m Eurocell deal revealed
The advisory team behind Eurocell’s £29m deal to buy Alunet has been revealed.
Bishopsgate provided corporate finance advice and Browne Jacobson provided corporate legal advice. A Midlands led team from RSM also provided financial and tax due diligence advice to Eurocell on the transaction.
Eurocell, the Derbyshire manufacturer and distributor in the home improvement sector, bought Alunet for £29m, with potential performance-related payments bringing the total deal value to up to £35m.
As part of the transaction, Eurocell acquired four companies including Alunet Systems, offering residential aluminium window and door solutions; Comp Door, a manufacturer of premium composite doors; JDUK, a supplier of sectional aluminium garage doors and components; and UK Doors (Midlands), a producer of aluminium roller shutter garage doors.
Morgan Atherton, managing partner at Bishopsgate Corporate Finance was supported by Mo Karim (director) and Sam Armstrong (associate) on the deal.
He said: “The businesses are a superb fit, product and culture wise, and I’m confident the acquisition will be a resounding success.
“This was a great deal to be intricately involved in, being in a sector we know well and with a such a large and prestigious local client, who were a pleasure to work with.
“As they all do, this transaction had its twists and turns along the way, but these were consistently and successfully navigated via sound professional advice and pragmatic commercial decision making from all parties throughout. Huge congratulations to the teams at both Eurocell and Alunet on what will surely be an exciting and successful combination.”
Sam Sharp, partner at Browne Jacobson was supported by Lydia Mills (associate) on the transaction and Rebecca Burge (senior associate) from a corporate tax perspective.
He said: “It was a privilege to support the Eurocell team on this significant acquisition, which reflects the increasing opportunities for mergers and acquisitions in the manufacturing and industrials sector at the moment. This acquisition marks an exciting chapter for Eurocell, and we are proud to have been part of it.”
Darren Waters, CEO of Eurocell said: “We would like to extend our thanks to Bishopsgate Corporate Finance and Browne Jacobson for their invaluable support and expertise in securing the right acquisition for Eurocell. Bishopsgate’s guidance and deal-craft played a crucial role in ensuring we successfully completed this strategic acquisition. Browne Jacobson provided their expert assistance in navigating the legal aspects of the deal, ensuring a smooth and successful transaction.”
