Sherrards seals George Lines acquisition
Published: 12 February, 2016
Represented by Sherrards Solicitors, Lords Builders’ Merchants have recently completed the purchase of George Lines (Merchants).
Based in West London, George Lines has been a long standing independent civils builders’ merchants for over 60 years, led by Mark Bone who will be engaged in a separate division within the newly enlarged company.
Completed in January, the deal represented a strategic move on the part of Lords in order to become one of the only independent builders merchants with a civils speciality in London. The acquisition adds approximately a quarter again to the group’s annual revenue, which will now total in the region of £44m per annum.
Sherrards’ corporate and commercial solicitor Andrew Cooke led the deal, supported by commercial property partner Charles Hodder. The firm has now acted in respect of several acquisitions for Lords, who have a stated intent to quadruple the size of their business.
Shanker Patel, CEO of Lords Builders Merchants, said: “Sherrards have been extremely professional and efficient during the transaction process. As with all share purchases there are issues that need resolution in order to save the transaction and when this arose, I was impressed with the manner in which Mr Cooke dealt with the issues and ensured that the transaction proceeded whilst protecting our interests. I would not hesitate to recommend Sherrards and Mr Cooke.”