Berry Smith is delighted to have guided and advised the existing shareholders of LCB Group Holdings Limited through an equity investment process with Buckthorn Partners. The deal pairs leading Welsh social housing contractor LCB and a top UK investment business, with the aim of creating a leading UK wide operation.
The newly formed Cardo Group will continue LCB’s market leading approach, supporting social housing providers with their maintenance, retrofit and decarbonisation needs. The new partnership paves the way for Cardo’s future growth, with plans already in place for several potential acquisitions nationwide.
Berry Smith worked closely with CEO Liam Bevan and the other selling shareholdings throughout the transaction, adding value during the process and steering the transaction through to successful completion. The team led the negotiation of the legal terms, facilitating the synergy of two leading firms (Sidley Austin advising Buckthorn) by utilising a collaborative, commercially focused approach.
Emma Borrington, Corporate Partner, led the deal to successful completion for Berry Smith, with support from Jacob Sims (Corporate Finance), Owen James (Corporate Finance) and Abbie Baker (Commercial & IP).
Emma commented: “We were delighted to advise Liam and his team. I know he has worked incredibly hard to build a very successful business, with an impeccable reputation in the industry and have no doubt this new partnership will pave the way for the group’s continued growth and success.”
Liam Bevan, CEO of Cardo Group said: “We were very pleased to work with Emma, Jacob, Owen and Abbie at Berry Smith on this joint investment arrangement and the establishment of Cardo Group. Berry Smith is a highly respected provider of legal services and their responsiveness and attention to detail really marks them out for us. I’ve worked with Emma’s team for many years now and they are currently acting for us on several Cardo Group acquisitions”.
Emma Borrington – Partner
Tel – 029 2034 5511