Howard Kennedy advises shareholders and management on the MBO of Aston Barclay
Law firm Howard Kennedy has today announced that it has advised the selling shareholders, and separately the incoming and existing management team, on the multi-million-pound investment from Rutland Partners into the Aston Barclay Group.
The transaction paves the way for a significant investment in the business which will consolidate it as the UK's leading national independent vehicle remarketing provider. The MBO was led by new chief executive officer Neil Hodson, with Glenn and David Scarborough, the former managing director and commercial director respectively, remaining shareholders and non-executive directors.
The Howard Kennedy team advising the selling shareholders was led by Corporate Partner Gillian White and Partner and Head of Corporate Ashley Reeback, supported by Associate Claire Scanlon and Solicitor Anastasia Demetriou with Senior Tax Associate Philip Vickery also advising. The management team were separately advised by Howard Kennedy Corporate Partner Paul Glassberg and Head of Tax, Leigh Sayliss.
Dentons UKMEA LLP advised Rutland Partners led by Corporate Partners Stephen Levy and Joseph Altendorff and Associates Joseph Collingwood and Olivia Ashurst.
Aston Barclay's Glenn Scarborough said:
We were delighted to have been advised by the Howard Kennedy team over the last few months who guided us through a complex transaction providing commercial and succinct advice throughout the process.
Howard Kennedy’s Gillian White said:
We are delighted to have been able to play a role in this deal and to see Aston Barclay into the next phase of its growth. Howard Kennedy has the strength and depth across the firm to manage complex and time-sensitive deals, supporting the needs of its entrepreneurial clients.
In a separate prior transaction, the Howard Kennedy Real Estate Team, comprising Partner Andrew Collins and Senior Associate Isabel Wolfe Barry, advised Aston Barclay on the acquisition of a new 18-acre Super Centre at Donington Park, which will become one of the largest state of the art auction venues in the country.
Howard Kennedy has 53 partners and numbers 350 people in total and works alongside national and international clients across many disciplines, including banking, corporate and commercial, family, finance, employment, dispute resolution, intellectual property, private client, real estate and tax. Howard Kennedy has particular focus on the Financial Services, Media and Technology, Real Estate, Retail and Leisure, Sports Individuals sectors, and, through HK One, the firm’s legal concierge service for high net worth individuals with complex legal needs.
Matt Baldwin, Coast
Tel: 01233 503200 / 07930 439739
Daryl Atkinson, Business Development & Marketing Director