BLP advises on disposal of AMEC’s tool and equipment hire business
Berwin Leighton Paisner LLP (BLP) advised international engineering and project management company, AMEC, on the sale of its tool and equipment hire business to Speedy Hire, the listed UK equipment and tool hire company.
Total consideration for the sale, payable in cash, will be GBP 12.5m. Working capital, cash and debt are not being acquired with the assets. Completion is expected to take place on 1 February 2008.
Corporate finance partner, Paul Sartori, led the team on the sale. Key advisers included Michael Jadeja (corporate associate) and Jonathan Dickson (associate director). Pinsent Masons advised Speedy Hire, led by Andrew Black out of its Leeds office.
Commenting on the deal, Paul Sartori said, “We were very pleased to have advised AMEC on this disposal, which follows on from our sole role in advising AMEC on its £320m divestment programme through the course of 2007. This further cements our relationship with AMEC and we very much look forward to working with AMEC on future transactions.”
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