Kevan Shaw has acted as lead deal advisers to the vendor of Speedwell Reinforcement Limited. Speedwell, based in Chapeltown, Sheffield, is a specialist steel reinforcement company that manufactures reinforcing bars and welded bespoke meshes for the precast concrete industries including the telecommunications, water, rail and construction industries and has a blue chip customer base.
Kevan Shaw and his team ran an auction process, which led to the selection of a purchaser with extensive knowledge in the engineering sector as the preferred bidder for Speedwell. The team successfully advised on a deal that sees a satisfying exit for the shareholders and existing management taking a 35% stake alongside the acquirer.
Kevan commented, “Despite the negativity in the market and media over the past 12 months, this deal demonstrates that with the correct advice, shareholders can successfully achieve satisfying exits and banks are still supporting purchasers in commercial deals.”
