Leading law firm Blake Morgan has advised the Kendall Group on its sale to Aggregate Industries, a leading player in the construction and infrastructure industries (and member of the international LafargeHolcim Group).
Since being founded in Portsmouth in the 1920s, the Kendall Group has grown into a substantial supplier of marine and land-based aggregates (obtained partly by the operation of its own 1,600 tonne dredging vessel), limestone materials and ready mixed concrete, generating revenues of around £25m in 2017 from its sites in Portsmouth, Romsey, Fareham, Alton, Newbury and Shoreham.
The acquisition of the Kendall Group by Aggregate Industries (“AI”) will allow AI to expand its operations in the South of England, a region expected to benefit from above national average growth, especially in housing and other construction. The deal will also enable AI to enter the marine dredging business and secure a long-term position in this market.
Richard Kendall, Director of Kendall Group, commented:
“Blake Morgan provided exemplary legal advice on this very important deal for our business. They surpassed expectations, offering commercial and pragmatic advice on the technical aspects of the sale. On behalf of myself and my fellow shareholders, I would like to thank Mat, Stephen, Mythri and the rest of the team who advised us throughout the transaction. We have been very impressed by the level of service received.”
Richard continued, “The Kendall Group has always been a family-run business and it was very important to us to find a company who would take care of both the business and the people we have nurtured for almost 100 years. I believe that we found this in Aggregate Industries and I look forward to watching the Kendall Group continue to flourish under their ownership.”
Blake Morgan senior associate, Mat Wilson commented:
“We are very pleased to have advised the shareholders of the Kendall Group on their sale to Aggregate Industries. Everyone involved worked together extremely well to get the deal completed which bodes well for an exciting future for the combined group. Under Aggregate Industries’ control, I am confident the Kendall Group will continue to thrive, support jobs in Portsmouth and across the South and strengthen its position in the national market. We wish AI every success and wish the Kendall family well so they can enjoy the fruits of their labour.”
Blake Morgan has an international portfolio of multi-national client companies (public and private), SMEs, owner managed businesses and start-ups with a need for high-quality corporate and M&A support and advice.
The corporate team is acknowledged within the legal industry and in the independent legal directories, for providing a first-class level of service across a wide range of transactions including mergers, acquisitions, sales, private equity and joint ventures.
Lead advisory support was provided on the deal by Stewart Lambert and Ian Robinson of James Cowper Corporate Finance.