Cheshire Accountants Howard Worth Waste No Time Aiding Clients Expansion.
Howard Worth’s corporate finance team assisted their client CRJ services with the acquisition of Scottish based company Matpro Machinery Limited.
CRJ’s merger with Matpro gives them an increased market share of the UK’s material processing industry whilst enhancing their offering in the hire and service of machinery and adding sales specialisms to their business. Both companies will continue to operate from their current sites in Cheshire and Scotland with additional premises being considered.
Set up in 1999, CRJ has evolved into one of the foremost providers of organic recycling, offering a nationwide service and is now a leading supplier of mobile recycling equipment in the UK.
Through the acquisition of Matpro, CRJ will be able to offer the sale of equipment from world renowned brands such as Haas and Steelweld Enviro Products which the integrated company are now the sole distributor for in the UK & Ireland.
The corporate finance team at Howard Worth carried out complex valuations of company assets, Tax and Financial due diligence, advisory work, Tax Clearance as well as final negotiations. A full integration plan was created along with a post completion strategy for implementation once the merger had been finalised. The in-house team also worked with Mark Briegal from Aaron & Partners LLP who provided the legal support required for the deal to complete.
Stuart Dutton, Corporate Finance partner at Howard Worth commented “Our main objective was to help our client achieve their business goal. In this case, by assisting with negotiations and offering guidance which ultimately resulted in the successful acquisition of another business. The merger creates one of the largest businesses of its kind in the country. We are delighted to have helped them grow their business in this way”.
Ali Wennell, Business Manager, CRJ Services Ltd “Howard Worth helped us navigate through the first acquisition our business has undertaken. The challenges over the past six months have often been complex and sensitive. However, with Stuart’s excellent knowledge and guidance, we completed the acquisition just before Christmas 2016”.
