Bristol-based brick and timber distributor Taylor Maxwell Group has undergone a corporate restructuring with help from experts in the Bristol law firm Burges Salmon and the city office of accountants Grant Thornton.
Taylor Maxwell Group is one of the UK’s leading brick and timber distributors with 18 branches nationwide and a turnover now of more than £175m.
It products range from facing brick, masonry and other façades from manufacturers based both in the UK and Europe.
The restructuring will lead to the promotion of a new generation of management and further shareholder incentivisation for employees.
New directors have been appointed and a number of employees have subscribed for shares in the newly formed holding company of the group, Taylor Maxwell Group (2017) Limited.
Taylor Maxwell Group (2017) Limited has acquired the entire issued share capital of Taylor Maxwell Group Limited with funding from Lloyds Bank.
Burges Salmon’s corporate finance and banking teams, led by Richard Spink and Tim Redman in corporate and Rachael Ruane and Elin Blundell from banking, advised on the legal aspects of the transaction, with support from specialists across the firm including pensions.
Grant Thornton’s corporate finance team – led by Andrew Charter and assisted by Victoria Grigg – advised on the restructuring of the group.
Support came from the firm’s tax advisory team, led by Richard Marsh and Michael Cooper and assisted by Thomas Thorneycroft, as well its employee solutions team led by Dominic Merlin-Cone and Paula Hargaden.
Richard Spink said: “Taylor Maxwell is a long-standing client of the firm and we are particularly pleased to have worked with the management team on such a key transaction in its development. #
“We worked with the group on a similar transaction in 2006 and this latest restructuring enables new management to be promoted within the business and ensures the ongoing development of a hugely successful Bristol headquartered company.”
Grant Thornton corporate finance associate director Andrew Charter added: “Taylor Maxwell Group is a market-leading local business with an exceptional reputation for innovation and client service, and we are delighted to have worked with them.
“This transaction is a fantastic result for the team and testament to the business’ continued investment in its people. We look forward to seeing the group continue to grow and progress to its next stage of development.”
Taylor Maxwell group financial director Mark Phillips said the group had worked with Burges Salmon for many years and so was delighted to involve them and Grant Thornton in what was an important transaction in the evolution of the group.
“Richard, Andrew and their teams have been hugely committed in supporting us throughout the process and have played a significant part in getting the transaction to completion,” he said.
Andrew Charter of Grant Thornton with Mark Phillips, Tony Hammond, Martin Rudge, Andrew Downes from Taylor Maxwell Group, and Richard Spink, Martin Davidson of Burges Salmon.
Pictured, from left: Andrew Charter of Grant Thornton with Mark Phillips, Tony Hammond, Martin Rudge, Andrew Downes from Taylor Maxwell Group, and Richard Spink and Martin Davidson of Burges Salmon. Photo courtesy of Professional Images/@ProfImages
