Burges Salmon has advised FB Investors on its recommended partial cash offer for Sutton Harbour, an AIM listed company.
Sutton Harbour is an award-winning waterfront regeneration specialist which owns and operates the historic Plymouth harbour. The Sutton Harbour Group operates in four business areas, real estate, regeneration, marine and fisheries and car parking.
The transaction, which values SHH at approximately £28 million, was structured as a partial cash offer under the UK Takeover Code. In April 2016, Sutton Harbour had appointed Rothschild to lead a strategic review of the options for its business, including a potential sale.
Corporate finance partner Dominic Davis and senior associate Tim Redman led a large cross-firm team of lawyers from Burges Salmon’s corporate finance, real estate, banking and planning teams. WH Ireland (Mike Coe and Ed Allsopp) acted as financial adviser to FB Investors.
Dominic says: “This transaction represents an exciting opportunity for both FB Investors and Sutton Harbour and we are delighted that our client has reached a recommended deal with Sutton Harbour. It was a pleasure to work with Philip Beinhaker and his team, and we are really looking forward to seeing the Sutton Harbour Group business fulfilling its potential under new ownership.”