Ellisons Solicitors recently advised the majority shareholders of Aquatronic Group Management (“AGM”) in connection with the sale of the group for an undisclosed sum. Based near Colchester and also operating from premises in Southampton and Manchester, AGM specialises in the custom design and installation of water pressurisation units, together with associated servicing and maintenance requirements. AGM’s history can be traced back to 1972 and the long-established company has made several strategic mergers and acquisitions during recent years.
The deal was complex requiring, amongst other aspects, cancellation of FCA registrations, removal of investment properties from the group, removal of subsidiary companies from the group, NSIA approval and conversion of the target company from a PLC to a Limited company.
Paul Forsyth, Partner and Head of the Corporate and Commercial team at Ellisons commented: “I have seen AGM acquire a number of businesses as part of their growth and it has been a privilege to be able to assist the majority shareholders with the sale of the company. This was a complex transaction and it was a pleasure to work alongside Scrutton Bland for the benefit of our mutual client.”
Client Mark Taylor commented: “We have engaged Ellisons for many transactions over the years but this transaction took a great team effort from Ellisons to navigate and negotiate a complex deal to a satisfactory conclusion. Thanks to all those at Ellisons for a great job brilliantly done!”
Throughout the transaction support was provided by David Heller and Abigail Williamson (Corporate), Tina Maxey (Employment), Phil Roberts and Lauren Philpot (Property).