Browne Jacobson has advised mid-market private equity specialists LDC on the acquisition of a minority stake in Aspin Group as part of a £25m acquisitive and growth strategy.
Established in 2000 by entrepreneurs Barry McMahon and Andy Hoffman, the Hertfordshire headquartered company provides foundation, substructure, superstructure and construction to the UK rail sector through four divisions: Aspin Foundations, Aspin Consulting, McGrattan Piling and Supplies and the recently acquired Rogers Structural Investigations. With clients including Network Rail, Carillion, Skanska and Balfour Beatty, amongst others, the Group has six UK offices and employs over 200 staff.
Browne Jacobson corporate finance lawyers Gavin Cummings, Mark Hughes and Paul McCannah advised John Green of LDCs Nottingham-based office on the deal. John will join the Board with immediate effect. Other advisers included PwC, Smith Cooper, Deloitte, Geldards, Flint Bishop and Freeths.
LDC Investment Director, John Green, said: “With Aspin, we are backing a highly experienced management team that has led the business through multiple phases of organic and acquisitive growth over recent years.
"There are record levels of investment being made in rail electrification over the coming years, and Aspin is well placed to further accelerate its growth and expansion plans. Our support will provide the team with additional financial and strategic firepower to fully capitalise on this.”
Gavin Cummings, corporate finance partner at Browne Jacobson, added:
“We were pleased to assist LDC with its continued investment in strong Midlands based businesses through its investment in Aspin Group which will help them to take advantage of future growth opportunities in the sector.”
Browne Jacobson has one of the largest corporate finance teams in the Midlands and is rated as the ‘premier’ corporate finance team in the East Midlands, according to the latest edition of independent legal directory Chambers UK.