Regional law firm Howes Percival recently acted for Stonbury Holdings in relation to its acquisition of Kingcombe Aquacare Limited.
Stonbury is a specialist contractor to the water industry, operating from 6 regional offices across the UK. This acquisition is part of Stonbury’s long-term business strategy. In particular, it will add operations into the South West of England, providing an excellent geographical base to complement their existing capabilities. Stonbury currently holds 14 long-term framework contracts with water companies across the UK, generating sales of £24 million and growing rapidly organically.
Kingcombe Aquacare Limited is a well-established water maintenance, construction, restoration and management company based in Somerset. Clients include Wessex Water and the Environment Agency.
Howes Percival’s partner, Daniel Banton, provided the lead corporate advice on the transaction, supported by solicitor Ben Mabbott, partner Paula Bailey and associate Nick Benton in the employment team and director Hannah Steggles and solicitor Owen Broughton in the intellectual property team.
Danial Banton commented on the deal:
"We are delighted to have acted for and supported the Stonbury team on their strategic acquisition of Kingcombe Aquacare. This deal is one of fourtransactions that completed across our offices this month. Our corporate team continues to expand and this deal demonstrates our reputation and expertise in advising acquisitive, growing businesses across the UK."
Neal Judd, Group Finance Directorof Stonbury added:
“We are very pleased to announce our acquisition of Kingcombe Acquacare who have an experienced resource and new skills sets to complement our own existing capabilities. This strategic acquisition expands the footprint of the group and demonstrates our commitment to continued growth. Daniel Banton and the Howes Percival team were proactive throughout the deal and provided professional and commercial advice to ensure that we achieved our objectives to a tight and fixed deadline and without any complications”