Leading South Yorkshire based company, Westbrook Holdings, which trades as Westbrook Resources from its head office in Dronfield, has been sold by its Shareholders to an Employee Ownership Trust in a transaction advised on by Sheffield based dealmaking firm, Castle Square Corporate Finance, and the Sheffield office of national law firm, Freeths. HSBC provided funding for the transaction.
With an annual turnover of $85 million in its last reported annual accounts, Westbrook is a leading supplier of metals, minerals, and ferro alloys to the global iron and steel industry. As a key part of the global supply chain, Westbrook sources, stocks, and supplies materials across all major continents, dealing with over 60 different metals and minerals in more than 40 countries.
Director Kevan Shaw and Joe Potts from the Castle Square team provided advice on transaction value and the fundraising process, with HSBC bank providing the necessary funding.
Castle Square, a mid-market specialist corporate finance boutique, has a proven track record in corporate acquisitions, disposals, management buy-ins and buy-outs, and corporate fundraisings.
Kevan said “Having first advised Westbrook on a refinancing over a decade ago, we are delighted to have now advised on a deal which gives the shareholders a successful exit.”
Following the completion of the sale, Shaun Walton will remain as Chief Executive, and Nick Jones will continue as Managing Director. The rest of the senior management team will also stay in place, working with them to take the company forward and oversee its continued growth.
Shaun said “Our thanks go to Castle Square, Freeths, and HSBC for their pivotal roles in enabling this EOT to happen. Now, those contributing ideas, hard work and professionalism will directly benefit from Westbrook's success. The sky is the limit.”
Legal and tax advice were provided by Lisa Wallis, Rosanna Brown, and Alex Angelides from the Sheffield office of law firm Freeths, a leading multi-disciplinary law firm operating nationally from 13 offices throughout England who provide expert legal advice to clients across the UK and internationally.
Lisa said “It was a pleasure to work with Westbrook and Castle Square on this transaction, securing an exit for the shareholders and allowing the Employee Ownership Trust to continue developing the business going forward, for the benefit of the employees”
Richard Baggaley from the HSBC Corporate Team was instrumental in delivering the funding on behalf of the bank.
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NOTES TO THE EDITOR
Sheffield based Castle Square Corporate Finance offer pro-active corporate finance advice to clients throughout the UK, tailoring our service to our clients and their markets, giving us an enviable record of successfully completing deals, including acquisitions and mergers, Management Buy-Outs
and Buy-Ins, finance raising and disposals.
Contact Details:
Kerry Webster (Office Manager)
Castle Square Corporate Finance
Tel: 0114 213 8353
[email protected]
website: www.castlesquarecf.co.uk
LinkedIn: www.linkedin.com/company/castle-square-corporate-finance
