Midlands based advisers at Higgs LLP and Azets have advised the shareholders on the sale of a leading arboriculture and vegetation clearance provider to a specialist investment group.
Warwickshire-based Heartwood Tree Surgeons was acquired by the Vermala Group.
Heartwood Tree Surgeons has more than 20 years’ experience in arboriculture and vegetation clearance. The business has one of the largest and most varied ranges of machinery in the UK and is able to facilitate projects from inception to completion.
Vermala, meanwhile, was founded by two entrepreneurs with the objective of building a leading UK vegetation management business. It is funded by an experienced group of SME investors and operators and is looking for more acquisitions opportunities to expand the group further.
Adrian Cook, the majority shareholder, said: “We are delighted to have completed the sale of Heartwood Tree Surgeons, which will allow the business to push on and develop for the benefit of its people and customers.
“We received excellent support and guidance from the teams at Higgs, led by Joel Nixon, and at Azets, led by Gary Hyem, from start to finish. They were a pleasure to work with.”
Higgs advised the shareholders on their sale, tax structuring and transitional support arrangements whilst top 10 accounting firm, Azets, provided corporate finance and accounting support.
Joel Nixon, Corporate Partners at Higgs, said: “We were delighted to advise in this significant transaction within the arboricultural sphere and to support a client as genuine and hard-working as Adrian.
“The deal will secure the long-term future of the business and its onwards growth, serving as an exciting addition to Vermala’s portfolio.”
Gary Hyem, Corporate Finance Partner at Azets, added: “It’s been great to work with Adrian on the transaction, and in collaboration with Higgs, to provide an incredibly successful outcome. We’re seeing more exits to “buy and build” acquirers as companies build strategies that allow opportunities to take businesses to the next stage of their life cycles. Alongside my colleague Danielle Hamill, who acted on behalf of Heartwood for accounting work, we wish the new owners the best in the new venture.”
458 Law represented Vermala Group.
Higgs' corporate law team has enjoyed a hugely successful 12 months with deals completed across a wide variety of sectors, with the pipeline remaining strong for the rest of the year.
