A team from Bristol-headquartered national law firm TLT has advised on the sale of a telecoms equipment supplier to a specialist recycling firm in a transaction that boosts its credentials in the fast-growing circular economy market.
The team advised the shareholders of Hampshire-based Lynx UK in the complex deal to TXO, a leading provider of end-to-end circular telecom network services.
Lynx UK’s shareholders included its staff following the firm’s adoption of an Employee Ownership Trust (EOT) model in 2022.
Chepstow-based TXO, which fixes, reuses and recycles equipment, said the addition of Lynx’s 80-strong workforce team would boost its decommissioning, asset management, engineering and test and repair services.
TXO, which employs around 260 people, said the deal would also benefit the environment by extending the lifetime of telecoms equipment.
TLT advised Lynx UK’s shareholders on all aspects of the sale. The team was led by corporate partner Alice Gardner, supported by Luke Thorngate-Davies, Nimarta Cheema, Ben Watson, Emma Bradley, Nicole Spurling, Irina Angliss, Lene Bray and Robin Ford.
TLT said the sale added to its portfolio of deals intended to boost sustainability and showed the continued increase in transactional activity in the circular economy, prioritising the repairing and recycling of existing materials in order to reduce waste.
Last year it supported sustainable waste management company Biffa in its acquisition of industrial services waste business Total Recycling Services (TRS).
TLT corporate partner Alice Gardner, pictured, said: “This deal really highlights how corporate acquisitions are being used to grow business offerings that focus on sustainability in the circular economy.
“It was a pleasure working with the Lynx UK team and we are pleased that we have been able to get this over the line in time for the new year.”
Lynx UK CEO Lyn Pickering said TLT had been great partners throughout the sale process – “calm and professional but very approachable and easy to deal with”.
She added: “The skillset across the various team members was very impressive, hence they were able to advise us across all areas of the transaction, including tax, employment, properties, contracts and, most importantly, the EOT.
“It was a complicated deal, but TLT were always able to explain to us the legalities in a clear manner such that we were able to take full advantage of their advice and make decisions which we were confident would be correct.
“TXO shares our vision for how the telecoms market should function sustainably and the cultural mindset needed to ensure the growth of sustainable networks,” said Lyn Pickering, CEO of Lynx UK.
“By joining TXO, we will be able to extend our impact globally, driving innovation, efficiency, and sustainability in the ever-evolving landscape of the telecoms industry,” she said.
Financial details of the deal have not been disclosed.
TLT has more than 150 partners and employs around 1,400 people across its six offices.
