Willans handles high-profile deal for Space Catering (UK) Ltd
We recently completed a complex deal for the selling shareholders of Space Catering (UK) Ltd who have sold a controlling stake in the company to leading catering equipment supplier Nisbets PLC.
Space Catering (UK) Ltd, the holding company of Space Catering Equipment Ltd, Space Interior Contracts Ltd, and Holmes Catering Equipment Solutions Ltd, is one of the top five design and build companies in the UK with turnover in excess of £15 million and around 80 employees. The top 100 Gloucestershire business celebrated its 15th anniversary year in 2015.
Our corporate & commercial partner Paul Symes-Thompson led the transaction on behalf of the selling shareholders with the help of commercial property partner Laurence Lucas, employment solicitor Jenny Hawrot and corporate & commercial solicitor Sophie Martyn.
Space Catering’s managing director, Ian Bidmead, and the rest of the management team will continue in their posts while the founder of the business, Mike Mellor, will leave the company this summer.
Mike Mellor commented: “I am delighted that Nisbets have invested in Space Catering and taken over my shareholding; I cannot think of a more perfect partner to support Ian and the team to take the business forward.
“While the transaction proved complex, Willans applied the same top quality service they have for many years. They understand our business and were key legal advisers in our major reorganisation three years ago. Once again, they were excellent advisers and were extremely thorough and efficient.”
Chambers-rated partner Paul Symes-Thompson commented: “I have known Mike for many years. In fact, he was involved in one of my first transactions at Willans in 1996. Space Catering is an example of one of the firm’s many longstanding clients and it has been a pleasure to be an adviser to this business success story. We help many businesses, from start-ups to large companies, on their journeys and look forward to watching Space Catering continue to grow with the backing of one of the industry’s leading companies.”
Ian Bidmead added: “The synergies that this deal gives to both businesses are significant. The scale and infrastructure that Nisbets have, will really help take us to the next level and can only enhance the value proposition that we can offer our customers. It is a very exciting time for the company. ”