A leading Midland law firm has advised the management team of Alcedo Ltd on the purchase of Pochin Concrete Pumping Ltd.
Supported by third party financiers, Alcedo Ltd completed the acquisition with the potential for additional deferred consideration of up to £1million becoming payable.
Pochin is a leading concrete pumping business, with operating sites in Cheshire and Tamworth.
Advising Alcedo on the purchase was Robert Lee, head of corporate at Leamington-based solicitors Wright Hassall. He led a team of seven including Steve Halkett, corporate associate.
Lee said: “We are really pleased to have brought a successful conclusion to what has been a difficult time for Pochin, following the announcement earlier last year that a buyer was being sought.
“Pochin will now work alongside Alcedo and their new investors to explore improvements in financial and operational performance, as well as potential growth opportunities.
“It was a pleasure to work with the Alcedo team and we wish them all the best for the future.”