BPE Solicitors and accountants Hazlewoods have recently advised specialist cleaning, hygiene and decontamination company, REACT Group PLC, on its acquisition of Exeter-based LaddersFree Ltd in a deal worth £8.5 million.
The acquisition of the commercial window cleaning business will enable REACT to diversify its service offering through expansion into complementary markets and is the next step in the AIM-quoted company’s strategy of building a leading industry position through organic growth and via strategic acquisitions.
The deal was guided by BPE Corporate Partner, Louise Grzasko, and Associate, Kathryn King, who oversaw the legal elements of the acquisition, including drafting the transaction documents and undertaking legal due diligence, while James Whittaker, Director at Hazlewoods, carried out financial and taxation due diligence and advised on the completion accounts mechanism.
BPE Solicitors also advised REACT on a £5.5 million placing of shares with new and existing investors to raise funds to finance the acquisition.
Louise at BPE said “Having worked with the team at REACT for many years, it was a pleasure to work with them on another successful transaction and to see the company going from strength to strength. We look forward to working with REACT again in the future”.
Shaun Doak, CEO of REACT, said: “This is an exciting opportunity for REACT as we add LaddersFree’s specialist service to our portfolio.”