Hogan Lovells Advises WT Burden Limited on £30m Sale of 22 Sites
05 November 2012
LONDON, 5 November 2012 - Hogan Lovells advised WT Burdens Limited (Burdens) on the successful sale of 22 sites to Wolseley plc, announced on 2 November 2012.
Burdens is one of the UK's leading suppliers of civil engineering and building materials to the infrastructure, environmental and industrial markets.
Wolseley will purchase the property, stock and vehicle assets of the 22 Burdens sites for a consideration of approximately £30 million, including goodwill of £5 million.
The sites will be integrated with Wolseley UK’s core businesses and Wolseley will have exclusive use of the Burdens name in the UK. Approximately 600 Burdens employees will join the Wolseley Group.
This is the second transaction on which Hogan Lovells has advised Burdens this year, having acted on its successful refinancing in February.
The Hogan Lovells team advising Burdens was led by Co-Head of private equity Alan Greenough, Of Counsel Keith Woodhouse and business restructuring and insolvency partner Debbie Gregory, supported by real estate senior associate Jamie Hyams, employment partner Ed Bowyer, competition partner Angus Coulter, banking Of Counsel Jo Robinson, environmental partner Chris Norton, IP Of Counsel Charlie Winckworth, tax associate Andrew Waddell and commercial partner Paul Joukador.
Commenting on the transaction, Alan said:
"We are pleased to have advised Burdens on a second significant transaction this year. Burdens has a well established reputation in the UK which has made the acquisition of the 22 sites an attractive proposition for Wolseley, allowing the Group to extend the reach of its utilities business in the UK and gain one of the leading positions in the underground drainage sector."