Derby solicitors Flint Bishop and accountants Ashgates have advised the 4 former shareholders of water industry specialists Clear Environmental Consultants Ltd (Clear) on the sale of their business to RPS Environmental Management Limited, a subsidiary of RPS Group Plc, for a maximum consideration of £8.34 million.
Founded in 2003, Clear has offices in Derby, Sheffield and Glasgow in the UK. Clear employs around 90 permanent staff, as well as utilising part time specialist associates who work primarily on projects for the UK water industry including urban pollution management, sewerage and river modelling and ecology. The four vendors are remaining with Clear, notwithstanding the sale.
The RPS Group is one of the world’s leading multi-disciplinary consultancies advising on all aspects of the built & natural environment. The acquisition provides the RPS GFlint Bishoproup with an exciting development opportunity to penetrate further the growing wastewater market in the UK, as well as the benefit of providing a broader range of services to its existing clients.
Flint Bishop’s Head of Corporate Finance, Ran Oren and Associate Martyn Brierley worked closely with the 4 former Shareholders of Clear to ensure the deal was completed within a strict timetable.
Martyn Brierley commented, “It was a pleasure to work alongside our clients to help them realise the value of a business they have worked tirelessly to nurture and grow. The transaction needed to be completed within 7 weeks, which meant an intense period for our clients who, notwithstanding the pressure they faced with having to maintain the efficient running of their business, were great fun to work with. This is one of a number of deals we are working on with similar tight timescales demonstrating an improvement in M&A conditions, an appetite to get deals done, and our strength and depth of resource”
David De Rosa one of the vendors of Clear, commented: “The sale process was intense and daunting, but Martyn and the team at Flint Bishop were excellent in guiding and supporting us through the process. We really appreciate the effort, commitment and professionalism of the team. Equally, we enjoyed the friendly approach that kept us going through all the hard work“.
For more information on Flint Bishop’s Corporate Finance services contact Ran Oren and his team on 01332 340211.