Morrisons Solicitors are very pleased to announce that we were the lead legal advisers to the shareholders of Hydralectric Group on the sale of the company by way of a BIMBO (Buy In-Management Buy Out) backed by Rockpool Investments. The deal which completed in the Autumn was judged the ‘Deal of the Year for transactions under £10m’ at The South East Dealmakers Awards, which took place on 2nd February 2017 at the Copthorne Effingham Hotel near Gatwick. Other key advisers on the deal included Avondale Corporate who negotiated the financial and commercial terms of the deal on behalf of the sellers.Insider Media who organised the event commented:
“Hydra-lectric’s new management team aims to build the business into an established market leader and to be one of the region’s major employers. The judges were keen to recognise that the deal was successfully funded through the Enterprise Investment Scheme, coupled with complementary investment to boost a manufacturing business in the region.”
Karen Lord, Deputy Head of our Corporate & Commercial department, accepted the award on behalf of Morrisons and said:
“We see this as an acknowledgement of the great service that our corporate team provides to our clients and are extremely proud to be recognised for this achievement. Congratulations again to all of the other nominees and winners on the night!”
The evening was spent celebrating the accomplishments of the region’s best M&A (Mergers & Acquisitions) professionals and to win an award at this prestigious event is always a ‘big deal’ and a very sought-after accolade within the south east’s corporate finance community.