Blake Morgan hits £213 million

Law firm Blake Morgan has acted on more than £200 million worth of deals in Wales in 2017, most recently advising Shaw Healthcare, one of the UK’s leading providers of residential and nursing care for the elderly, on the sale of a minority stake to Bridges Evergreen Holdings (“Evergreen”) for £10m.

Blake Morgan has an 11 strong corporate team in Wales based at its One Central Square, Cardiff offices. Led by Partner Rob Cherry, clients involved in 2017 deals include Brighter Foods, BSN Social Care, Orbis Education & Care, Amberon and LDC. The value of deals, which includes management buy-outs, disposals and acquisitions, totals £213 million since January 2017.

The most recent transaction saw Blake Morgan advise Shaw, one of the ten biggest employee-owned businesses in the UK with over 3,500 employees and revenues in excess of £90m last year, on the investment by Evergreen of £10 million for a minority stake in Shaw to accelerate its growth and development.

Evergreen is a permanent capital vehicle managed by Bridges Fund Management (“Bridges”), the specialist sustainable and impact investor. Unlike standard private equity funds, Evergreen has no requirement to exit in a finite period – allowing it to provide financial and operational support to Shaw over the long-term.

Jeremy Nixey, founder/CEO of Shaw Healthcare, commented: “As we continue to expand the business and enhance our impact in the coming years we sought an investment partner that shares our values and has a strong record in the care sector. Bridges are the perfect fit and align with our ethos.

“With the investment scheduled for completion in early December, we are very grateful to Blake Morgan for their first class support. Without doubt, their expertise and pragmatic approach enabled us to agree a deal with Bridges that works financially and morally for our business.”

Robert Cherry of Blake Morgan led the team advising Shaw. He said: “This has been a fantastic (if exhausting!) year for the team in Wales, with a superb total of 24 deals totalling £213 million having been completed. We were also proud to be named Law Firm of the Year at the Insider Dealmaker awards and to have 16 of our Cardiff-based partners named as leading individuals by the prestigious Legal 500 Directory.

“From this £10 million strategic deal for Shaw to the sale of family owned business Cambrian Printers in Aberystwyth, we are committed to helping our clients to achieve their goals. We are now focussing on the market opportunities that 2018 will bring and look forward to continuing to deliver the exemplary service that we are known for.”

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. The 2017 edition of the prestigious Legal 500 Directory The Legal 500 lists 16 Cardiff-based Blake Morgan Partners as “leading individuals” – the highest accolade the directory can give. Those named include corporate lawyer Robert Cherry who advised Shaw Healthcare.