Squire Sanders has acted for the shareholders of the TRAD Group of Scaffolding companies on the sale of its London-based scaffolding contracting business and Hire & Sales business to French-owned Altrad Group.
Founded in 1971, TRAD Group has approximately 450 employees and a turnover of £45million per annum. Its contracting business mainly focuses on the London and South East markets and the Hire & Sales business operates through a UK branch network supplying all forms of access equipment, scaffolding, system scaffolding, fencing and fall prevention products on a sale or hire basis.
Altrad Group is construction equipment business with over 80 companies, primarily located in Europe. The acquisition of TRAD Group will enable Altrad to provide the UK market with its scaffolding and construction-related products and additional contracting services in the scaffolding sector.
The Squire Sanders team was led by Birmingham Corporate partner Geoff Perry, assisted by Ryan Hawley, Simon Major, and Lucy Partridge (Corporate) and Sarah Childs (Real Estate).
This is the second significant transaction to be completed by Squire Sanders in the scaffolding sector recently. In March 2012, Mr. Perry advised the shareholders of scaffolding business Generation Hire & Sale on its sale to Altrad. Following the successful conclusion of this deal, Squire Sanders was recommended to the shareholders of TRAD and given the mandate to act on their behalf.
Mr. Perry commented: “We were delighted to be recommended to advise on this deal. There continues to be consolidation in the construction services industry given the continuing economic challenges, and so it is very positive that we are being recognised as a leading adviser in this field.”
Flint Bishop in Derby advised Altrad.