Holmes & Hills Solicitors Corporate & Commercial Team has advised the shareholders of Boddingtons Electrical Limited (Boddingtons), an Essex-based insulated tool manufacturer on the successful sale of their business to large French conglomerate – Sicame Group.
As the company enters a new phase, Nick Jordan, Managing Director of Boddingtons, will be staying on and will be instrumental to the future of the company moving forward.
Having been founded in Essex back in 1999, Boddingtons has grown to become a leading and international supplier of insulated tools, protecting professional users in the event they make contact with an energized source.
For Sicame Group, the acquisition of the well-established Boddingtons positions the global company to further develop its Commercial and Industrial division, supplying insulated tools for utilities and industrial applications, as well as the new, growing market of electrical vehicle maintenance.
As well as its internationally recognised brand, Boddingtons boasts prime business premises near Stanstead Airport as well as a skilled workforce. Over the last 60 years, the Sicame Group has seen sustained growth through acquisition in the electrical infrastructure industry and is currently the largest independent entity in their sector turning over €400 million in 2020.
Holmes & Hills' team of corporate & commercial solicitors, led in this matter by Senior Solicitor, Natalie Stoter, represented the shareholders of Boddingtons in regard to their negotiations, the legal due diligence process, and the drafting of extensive transactional documents. Throughout the matter, Senior Solicitor, Natalie utilised her extensive knowledge and prior experience of corporate transactional work to steer the project to a successful completion, protecting the short and long-term legal interests of the disposing shareholders.
Alongside corporate legal services, shareholders of Boddingtons also benefited from Holmes & Hills’ legal expertise in relation to commercial property and employment matters. Nick Jordan commented “From the initial offer to completion, Natalie and the team at Holmes & Hills were excellent in supporting us and providing concise legal advice on the transaction overall. The team’s approachability, calmness, and professionalism shone throughout the transaction and meant that we, the selling shareholders, felt in a safe pair of hands from start to finish”.
Holmes & Hills worked closely with lead corporate finance advisors Rob Dukelow-Smith and Will Neill from Forward Corporate Finance on the project, who supported Boddingtons from initial conversations to sale advising on financial due diligence and commercial negotiations.
Natalie Stoter, Senior Solicitor at Holmes & Hills commented “We were very pleased to be partnered with Forward Corporate Finance again on another deal, this time working with Boddingtons to help them secure this sale and facilitate the business progressing to its next phase of growth.”