Leading Three Counties’ law firm, Harrison Clark Rickerbys is delighted to announce that it recently acted for London private equity specialist Meridian Equity on their investment in Blue Castle Group in Nottinghamshire.
Blue Castle is a business that has several divisions covering waste management, energy management solutions for commercial businesses across UK and Ireland, a secure data shredding service and other waste related services, generating extremely strong profits off revenues of approximately £5 million. The deal allowed the original shareholder of the group to exit and to focus on a business opportunity that he has in California. The remaining management team has stepped in to take business forward and grow it under the ownership of Meridian.
Andrew Clarfield, investment partner at Meridian Equity, said: “this is a really exciting transaction for us, which has allowed the seller to step aside to focus on his own venture whilst allowing ourselves and management to step in to help maximise growth in the business. Whilst the core business of Blue Castle is focused on the UK, there are great opportunities for developing growth internationally. Harrison Clark Rickerbys, led by Richard Wilkey and his team, provided commercial and pragmatic advice and stood with us shoulder to shoulder throughout the deal. The team’s work ethic and quality was excellent.”
Richard Wilkey, Partner and Head of Corporate Department in Cheltenham said: “I am delighted for Meridian Equity and the management team at Blue Castle. It is always great to be involved in a deal where you get to see the transition from an outgoing vendor to incoming management and you know that there are huge opportunities going forward. Meridian Equity had a very refreshing approach to the investment and a user friendly, commercial style with management team. I wish the team and business all the best for the future.”
Meridian Equity is a private investor in UK businesses who work with vendors and management teams to complete transactions in a timely, efficient and confidential manner. Meridian view themselves as management’s partner and have developed a track record of backing, supporting and financially rewarding management who deliver realistic and agreed targets – this has become the back bone of their investment approach and has resulted in superior returns for them and their management teams.
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