Marshalls plc’s Proposed Acquisition of Marley Group plc

In UK Slaughter and May, Travers Smith, advised on the matter.

Slaughter and May advised Marshalls plc with a team including Rob Sumroy (Commercial Law), Anna Lyle-Smythe (Competition Law), Padraig Cronin (Employment), Paul Mudie (Equity Capital Markets), Andy Ryde (Picture – Equity Capital Markets), Richard Jones (Finance), Rob Sumroy (IP&IT), Samantha Brady (Public Law), John Nevin (Real Estate), Gareth Miles (Tax M&A and Deal Advisory).

Travers Smith advised Inflexion Private Equity with a team including Richard Spedding (Equity Capital Markets), William Yates (Equity Capital Markets).

Marshalls plc (Marshalls) on its proposed acquisition of Marley Group plc (Marley) from Inflexion Buyout V Investments LP, Inflexion Supplemental V Investments Limited Partnership and certain management sellers (together the Sellers) for a total enterprise value of £535m on a cash free and debt free basis (the Acquisition). Marley is a leader in the manufacture and supply of pitched roof systems to the Great Britain (GB) construction market.

The Acquisition will be financed through consideration shares being issued to the Sellers and cash consideration from new debt financing arrangements and an equity capital raising. The equity capital raising, which is structured by way of firm placing, placing and open offer, is expected to raise gross proceeds of c.£187m.

The Acquisition constitutes a Class 1 transaction for Marshalls and therefore is conditional upon, amongst other things, the approval of Marshalls’ shareholders.

Slaughter and May’s team included Andy Ryde (Picture), Partner, Paul Mudie, Partner, Hemita Sumanasuriya, Associate, Beth Harper, Associate, Sonya Jarvie-Thomas, Associate, Amina Flynn, Associate, Charlie Wells, Associate, Tobias Begemann, Visiting Lawyer, Jardelle Johnson, Trainee, Ollie Cantrill, Trainee, Christy Conlon, Trainee, Caroline Carney, Trainee, Richard Jones, Partner, David Hay, Associate, Gareth Miles, Partner, Emma Game, Senior Counsel, Kasim Mehmood, Associate, Padraig Cronin  Partner, Philippa O’Malley, Associate, Josh Fennell, Associate, Richard Goldstein, Consultant, Anna Lyle-Smythe,  Partner, Hilary Wham, Associate, Rob Sumroy, Partner, Laura Monaghan, Associate, Edmund Berney, Associate, John Nevin, Partner, Samantha Brady, Head of Environmental Law, Hetty Sharman, Associate, Rob Sumroy, Partner and Heather Broadbent, Associate.

Corporate Partners Richard Spedding and Will Yates led a cross-departmental team, together with Senior Counsel Joanna Roberts, and Senior Associates James Addison and Becky Dove.

Involved fees earner: Edmund Berney – Slaughter and May; Samantha Brady – Slaughter and May; Heather Broadbent – Slaughter and May; Padraig Cronin – Slaughter and May; Josh Fennell – Slaughter and May; Amina Flynn – Slaughter and May; Emma Game – Slaughter and May; Beth Harper – Slaughter and May; David Hay – Slaughter and May; Sonya Jarvie-Thomas – Slaughter and May; Richard Jones – Slaughter and May; Anna Lyle-Smythe – Slaughter and May; Kasim Mehmood – Slaughter and May; Gareth Miles – Slaughter and May; Laura Monaghan – Slaughter and May; Paul Mudie – Slaughter and May; John Nevin – Slaughter and May; Philippa O’Malley – Slaughter and May; Andy Ryde – Slaughter and May; Hetty Sharman – Slaughter and May; Hemita Sumanasuriya – Slaughter and May; Rob Sumroy – Slaughter and May; Charlie Wells – Slaughter and May; Hilary Wham – Slaughter and May; James Addison – Travers Smith; Becky Dove – Travers Smith; Joanna Roberts – Travers Smith; Richard Spedding – Travers Smith; William Yates – Travers Smith;

Law Firms: Slaughter and May; Travers Smith;

Clients: Inflexion Private Equity; Marshalls plc;

Author: Giulia Di Palma