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23 Aug 2010 16:42
Eversheds advises Allied Glass on £75m secondary buyout
International law firm Eversheds has advised the shareholders and management team of Leeds-based glass bottle manufacturer Allied Glass on a £75m management buyout backed by Barclays Private Equity.
Allied Glass is the fourth largest glass manufacturer in the UK and manufactures glass containers for the spirits industry. Their customers including Diageo, Chivas and William Grant & Sons.
The Eversheds team was led by corporate partner Robin Skelton, assisted by corporate solicitors Jonathan Pollard and David Milne.
Robin Skelton comments:
"Eversheds has a dedicated international food and drink sector and are well placed to advise clients on all manner of issues affecting the sector. We advised the Allied Glass management team on their initial management buyout in 2002 when Close Brothers backed the acquisition from Associated British Foods. Since that time we have been Allied Glass' sole legal advisers. We are delighted to have advised on this latest transaction which presents opportunities for expansion into new and niche markets to enable Allied to continue to develop as one of the UK's leading glass bottle manufacturers".
Alan Henderson, Managing Director at Allied Glass said:
"This is an excellent opportunity for Allied Glass. This year we are achieving growth over and beyond last year. We can see a good future for where we are headed. Eversheds provided a seamless service and we are delighted with their efforts which have helped us to get to this point."
For more information contact:
Eversheds LLP
Eversheds LLP and its world wide offices have over 4,500 people who provide services to the private and public sector business and finance community. Access to all these services is provided through 45 international offices in 28 jurisdictions. Eversheds combines local market knowledge and access with the specialisms, resources and international capability of one of the world's largest law firms.
www.eversheds.com