Smith Cooper advised in the 50% stake acquisition by LDC in high-growth UK Aspin Group plc.
Established in 2000 and headquartered in Hemel Hempstead, Aspin is the UK market leader in the design and construction of piled foundations for the rail sector, primarily used for supporting overhead line equipment (OLE) and signalling structures. The business has over 200 employees across its 6 key offices and a strong track record of innovation providing clients with an end-to-end solution encompassing design and consulting, ground investigation, project management and construction. The deal was transacted by LDC’s Nottingham team, led by Investment Director, John Green with support from Andy Grove. They will both join the board with immediate effect.
Keith Ludeman has also joined the business as Non-Executive Chairman. Keith brings a wealth of experience in the rail and wider transport and infrastructure sectors.
The deal was supported by Smith Cooper who project managed and negotiated the deal with LDC and provided specialist tax advice to the management.
Alongside consistent organic growth, the business has made two strategic acquisitions in the last two years, both of which Smith Cooper have advised on. Sheet piling company, McGrattan, was acquired in 2013, followed by Rogers Structural Investigations in 2014, bringing on-site infrastructure inspection and testing services for the rail and highways markets to Aspin’s portfolio.
David Nelson, Business Advisory Partner at Smith Cooper commented: “The management team at Aspin have continued to lead the company through multiple phases of organic and acquisitive growth. With the rail industry continuing to face considerable changes and clear ambition and growth plans evident in both companies, it was immediately clear they were a perfect fit. As advisors, we are delighted to have worked alongside Aspin on yet another exciting transaction”.
Smith Cooper Team