Durham's Swinburne Maddison acts in Stockton plant firm deal

Swinburne Maddison LLP, a law firm in Durham city, has advised Teescraft Engineering Limited on the acquisition of the entire issued share capital of LH Quarry Plant Limited.

The deal also included the acquisition of Baxter Crushers Limited, as a wholly owned subsidiary of LH Quarry Plant.

This opportunity has come about due to majority shareholders, Nick and Phil Caswell, looking to retire and wishing to secure a buyer for the company, which was founded by their father, Laurie.

The acquisition will offer up potential expansion and diversification.

Rob Yorke, managing director of Teescraft, said: “LH Quarry Plant has a history of building on success to expand and diversify, meeting new industry challenges head on and investing heavily in the business over the years to improve efficiency and meet customer demand.

“We are keen to continue this journey and excited by the level of knowledge shared by our companies. We envisage a truly great future for the combined group.

“The team at Swinburne Maddison have done a tremendous job for us and have provided wise counsel at every stage of the transaction, which, with their help, has progressed very smoothly.”

The company has a turnover of £5m and around 40 staff, supplying services, spare parts and consultancy from its Stockton base to the quarrying, demolition, recycling and dredging industries across the likes of the UK to South Africa or Asia.

The deal was led by partner, Martyn Tennant, head of corporate and commercial, who added: “We were particularly pleased to have been recommended to Teescraft to undertake this important and strategic acquisition.

“Not only did this deal give us scope to draw upon the wide range of expertise at our disposal, but it is a clear indication that experienced M&A services are available within County Durham.

“We hope that this transaction is only the first of many instructions we receive from Teescraft as it continues to expand and diversify its business and we wish them all success in the future.”

BHP Law acted for the shareholders of LH Quarry Plant.

Looking to promote your product/service to SME businesses in your region? Find out how Bdaily can help →