Willans works on high-profile deal for Autoclenz Group Limited
Our Legal 500-rated corporate team, led by partners Theresa Grech and Paul Symes-Thompson, have completed a deal for multi-million pound car valeting enterprise Autoclenz Group Limited.
We were responsible for the complex demerger and subsequent sale of the demerged business to Verdes Management plc.
Autoclenz demerged the REACT arm of its operations in June. REACT is a Derbyshire based cleaning business which provides a number of industries such as Network Rail, HM Prison Service, local authorities and other public bodies with specialist cleaning services. The REACT business was transferred to a newly formed company, REACT Specialist Cleaning Limited, which later became a subsidiary of REACT SC Holdings Limited following the reorganisation of Autoclenz.
Verdes Management plc, an AIM listed company, subsequently purchased the REACT group as part of a reverse takeover in August. Our corporate team also advised the shareholders of REACT in connection with this transaction.
Paul Symes–Thompson said:
“This group reorganisation was complex and required an innovative approach. Our corporate team then worked proactively to ensure that the subsequent sale was completed by the target date.”
Theresa Grech added:
“The reorganisation and subsequent sale of REACT meant the deal had to be completed within very tight deadlines. Our experienced team had the pragmatism to handle every challenge. We’re delighted to have worked on both transactions and wish Autoclenz and REACT every success in the future.”
Grahame Rummery, Chief Executive of Autoclenz Group, said:
“I’d like to thank Willans for their support and legal advice during this process. We have enjoyed working with them over the past few months, and appreciated their practical approach.”
Tax advice to the Autoclenz Group was provided by Grant Thornton and the team at BPE handled the acquisition and fund raising for Verdes.