Member Article

Taylor&Emmet seals deal for lone star wire firm

A Texas-based company has purchased one of Sheffield’s oldest steel wire manufacturers, with help from business experts at local solicitors, Taylor&Emmet LLP.

Specialists from the firm’s corporate and commercial team negotiated the acquisition of the recycling wires division of Penistone Wire on behalf of clients, the Accent Wire Group.

Taylor&Emmet’s advisers worked with their client’s UK subsidiary in Bradford to complete the transaction and make Accent the country’s largest supplier of specialist machinery and wires to the waste and recycling industries.

Rob Moore, head of business legal services at Taylor&Emmet, said: “Bringing this acquisition to its successful conclusion has been a real collaborative effort by the team, requiring expertise in employment and commercial property law, as well as deal making. Our knowledge of the South Yorkshire business community was also beneficial for Accent and we are pleased to have played such a crucial role in the firm’s rise to UK market leader.”

Penistone Wire, founded in the 1950s as Ward Brothers, operates from two sites in Penistone on the Sheffield/Barnsley border. The seller was represented in the acquisition by Kuits Solicitors in Manchester. Funding was provided to Accent by Shawbrook Bank.

For more information about Taylor&Emmet’s corporate and commercial services, telephone (0114) 218 4000, visit www.tayloremmet.co.uk or follow the firm on Twitter, @tayloremmet.

This was posted in Bdaily's Members' News section by Nina Sorby .