Leading law firm Howes Percival has acted for the shareholders of Stonbury Holdings Limited, a UK water and environmental sustainability specialist, in the sale of Stonbury to private equity firm LDC.
Howes Percival’s team advised on the sale of the entire issued share capital of Stonbury to LDC and advised the management team on its investment in (by way of equity and debt) and ongoing contractual relationship with the business. The business’ existing management team will stay in place with Trevor Hoyle as CEO.
Howes Percival’s team included, Andrew Harris, Tom Redman, Shital Odedra, Bradley Johnson, Deb Hay Davison, Zara Khan (Corporate), Chloe Bristow (Company Secretarial), Haydon Simmonds, Katherine Cereghino (Banking) and Chris White and Paula Dumbill (Commercial).
Simon deMaid and Sobia Ahmad covered Employment Law, Kavita Raikundalia - IP and Graham Jones – Property.
MHA MacIntyre Hudson (Corporate Finance) also advised Stonbury.
LDC was advised by FRP Advisory (Corporate Finance), Browne Jacobson LLP (Legal), KPMG UK (FDD) and Armstrong Transaction Services (CDD).
Howes Percival Partner and Head of Corporate, Commercial and Banking, Andrew Harris commented,
“This is another brilliant achievement for the Corporate Team and a testament to the sector expertise of our wider team in various areas such as commercial, property, intellectual property and banking. It further demonstrates our ability to efficiently handle some of the largest and most complex deals during what was an extremely busy winter period for the Corporate Team.”
Trevor Hoyle, Stonbury CEO commented,
"I just want to put on record what absolute diamonds the Howes Percival team have been throughout this process. It has been a pleasure to deal with everyone and the team struck that challenging balance between technical competence and pragmatism, together with some good humour thrown in. I am both very impressed and very grateful.”
Tom Redman, Howes Percival Corporate Director said,
“Sustainability is one of the main issues facing water companies and environmental organisations. We have seen a rise in major weather events and the significant effect of climate change. LDC and Stonbury are focused on creating a sustainable future through a resilient and efficient water network to mitigate the detrimental impacts of climate change.
“LDC’s investment will allow Stonbury to develop its range of water, wastewater and nature-based, low-carbon environmental services, and to expand further into clean energy solutions.”
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