We recently advised the exiting shareholders of Shore Engineering Limited on the sale of the Company to global firm, SOCOTEC.
First established in 2002, Shore provides professional consultancy services to the construction industry in relation to Building Control, Health and Safety, and Construction Design and Management (CDM).
The SOCOTEC Group operates in 23 countries and provides technical consulting services for some of the largest construction projects in the world. The acquisition of Shore is SOCOTEC’s latest acquisition and results in SOCOTEC UK becoming the leading company in UK Building Control.
Kevin Savage, majority shareholder of Shore prior to the sale said: “Selling a business is both exciting and incredibly stressful and having an experienced legal & financial team to support and advise you throughout the many important decisions that you need to make is essential.
Shore were delighted with the support and advice offered by Ellisons throughout the process. You need a legal team with the depth and breadth across a range of legal platforms covering corporate, property and employment law. Ellisons team were there to support and guide Shore on these important areas throughout the transaction and really understood the pressures and difficult decisions we needed to make and worked with us to get the transaction complete within a tight timeframe.”
Corporate & Commercial Partner, Paul Forsyth, who led the team at Ellisons, said: “Ellisons have advised Shore for a number of years and it was a pleasure to have advised the shareholders on their exit from the Company, alongside Mark Smith and the team at Scrutton Bland who provided the shareholders with financial advice throughout the process.”
“The initial timeline was tight with contracts not issued in late November and a CICAIR approval meeting pencilled in prior to Christmas but, alongside the Buyer’s advisers, we were able to meet the deadline. The deal required input from Ellisons’ Corporate, Employment and Commercial Real Estate teams.”
“We’d like to wish the team at Shore and SOCOTEC the best going forwards.”
Other team members assisting on the transaction include David Heller, Adam Kanharn, Bethan Williams and Tina Maxey.
