Slaughters and Hammonds tap in for roles on £558m plumbing company buyout
Slaughter and May and Hammonds have taken lead roles advising Travis Perkins on its £558m acquisition of BSS Group. The magic circle firm advised the building merchants as a new client on the cash and share acquisition of plumbing and heating company BSS Group.
July 15, 2010 at 06:08 AM
2 minute read
UK duo advise on Travis Perkins' £558m acquisition of BSS Group
Slaughter and May and Hammonds have taken lead roles advising Travis Perkins on its £558m acquisition of BSS Group.
The magic circle firm advised the building merchants as a new client on the cash and share acquisition of plumbing and heating company BSS Group.
The combination of the two companies is set to create the UK's leading plumbing and
heating distribution business.
Slaughters partners Robert Stern and Stephen Cooke led the firm's team, assisted by
associates Iqbal Hussain and Matthew Poxon. Partners Mark Dwyer and Andrew Balfour advised on finance aspects of the deal while competition partner Michael Rowe advised on antitrust issues.
Meanwhile, national firm Hammonds scored a role advising long-term client BSS
on the takeover. Hammonds corporate partner James McKay led the firm's team, assisted by corporate partners Giles Distin and Robert Bray.
Hammonds has advised BSS on a number of M&A deals over the past decade including
its £30m acquisition of Tricom in 2003, the £27m takeover of Buck & Hickman in 2007 and a £22m acquisition of Birchwood Products in 2008.
The firm has also provided advice to the company on a number of other areas including commercial matters, employment pensions work.
McKay commented: "We have acted on a number acquisitions for the BSS
over the past decade which culminated in its sale to Perkins. It is great to get
of this size away in the market and this is one number of large transactions
the team has acted on this year."
The deal, announced this month, (5 July) is due to close in September.
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