Local advisors seal key civil engineering deal
Two of South Yorkshire’s most prominent dealmaking firms have combined to deliver a deal which has seen one of the UK’s leading specialist civil engineering businesses acquired in a £multi-million cross-border transaction.
Operating from bases in Sheffield and elsewhere throughout the UK, the GJP Group of Companies provides specialist contracting services for large infrastructure projects such as bridges, highways and tunnels. The group has been acquired by RPM International Inc, a global leader in speciality specialty coatings, sealants, building materials and related services serving both industrial and consumer markets with worldwide sales of approximately $3.5 billion (£2.3billion)
Local advisors to the transaction included Halliwells LLP and BHP Ingram Forrest Corporate Finance.
Neil Thompson and Paul King led the Halliwells team which acted as legal advisors to the shareholders. Neil Thompson said "Having first met Neil Bennett in the early 1990s and having acted for GJP since then in all of its major developments and acquisitions, it is very pleasing to have worked on this significant deal which has put the group in the hands of a like minded US corporation. This is a particularly good demonstration of the benefit of longstanding relationships with clients where we can ensure that their objectives are met in the deal process."
A team led by David Forrest and Scott Burkinshaw of BHP Ingram Forrest Corporate Finance acted as lead advisors to Neil Bennett and the management. David Forrest commented, “We are delighted to have advised on this very substantial transaction. There are inevitably additional complexities in a cross-border transaction but this deal demonstrates that despite the economic uncertainty, high quality businesses such as GJP remain attractive strategic targets for overseas acquirors.”
Founded in 1981, GJP employs around 160 people and has sales of approximately £35 million. In 2006 the group undertook a major expansion with the acquisition of Sheffield based Pitchmastic PMB Ltd., widely recognised as one of the leading international suppliers of specialist coating products to infrastructure projects across Europe, the Middle East and Asia Pacific.
