Management buy-in at bathroom products group
Clarke Willmott has advised on the private equity-backed management buy-in of Cooper Callas. Based in Bicester, Cooper Callas is a distributor of bathroom products in the UK.
The deal team was led by partner Kelvin Balmont, who was assisted by associate Lawrence Furlong.
The management buy-in team was led by Phil Carr.
The acquisition was financed by a combination of bank lending from Santander, invoice/stock/trade finance from Leumi ABL and private equity investment from Percipient Capital.
The deal involved the acquisition by a new corporate vehicle, Coopers Distribution Ltd, of the entire share capital from the long-standing shareholders.
Phil Carr said: "The acquisition presented a number of complex legal challenges that needed clear direction and advice to ensure the transaction remained on course.
"The team at Clarke Willmott worked closely with financial advisors and legal partners to pull together all elements, providing real assurance to the investors. Great to work with some truly dedicated individuals and a well-structured team."
Clarke Willmott has offices in Birmingham, Bristol, London, Manchester, Southampton and Taunton.