The Corporate and M&A team from independent UK law firm Burges Salmon has advised Fasadgruppen, a Swedish company listed on Nasdaq Stockholm, on its first acquisition in the UK, which sees the company acquire Clear Line, a specialised full-service contractor in façades and façade fire remediation, for a total consideration of £119.9 million.
The acquisition establishes Fasadgruppen Group in the UK, where the market for facades is estimated to be worth around £10.5 billion per year. The UK facade market has many niche players that would fit well into Fasadgruppen’s decentralised model and is therefore an attractive complement to the group's Nordic market with opportunities for consolidation and growth.
The cross-firm Burges Salmon team advising Fasadgruppen included director Julie Book, senior associates Douglas Streatfeild-James and Oli Gingell, associate Dan Wood, solicitor Sam Booth and partner Richard Spink from the firm’s Corporate and M&A team.
Julie Book comments: “We are proud to have advised Fasadgruppen on such a landmark transaction as it pursues its strategy of strengthening its position through the acquisition of leading local entrepreneurial and specialised companies. The UK is a key market for renovation, energy efficiency and remediation in the building sector and we’re delighted to have been able to support the team through the process.”
Martin Jacobsson, CEO of Fasadgruppen, adds: “This was a key transaction for the Group as we expand into the UK. The UK is an attractive complement to our Nordic market and the acquisition of Clear Line with its excellent market position provides us with an exciting platform for further growth. Julie and the team at Burges Salmon were instrumental in enabling us to complete the transaction, giving us fantastic support from the outset, and providing hugely responsive and commercial advice throughout as we worked through the process for the first time in the UK.”
Burges Salmon has a strong Corporate practice advising clients across a broad range of sectors. Much of the firm’s work has an international element, helping overseas clients expand into the UK and supporting UK-based businesses grow internationally. Co-ordinating advice for clients across jurisdictions, the firm acts for multi-national organisations and institutions, entrepreneurial businesses and high net worth individuals.