CLB Coopers advise Richardson Projects Holdings Ltd on the sale of the business to Rok plc
CLB Coopers and Halliwells have advised Richardson Projects Holdings Ltd on the sale of the business to Rok plc.
Halliwells' corporate team was led by partner Rebecca Grisewood and associate Christian Doyle.
At CLB Coopers, deal originator, David J Travis said "The success of this transaction, given the current construction market, is a credit to a whole team of people including the deal team at CLB Coopers, Halliwells’ corporate team and our client. The acquisition provides an excellent opportunity for Rok plc to expand its service to the social housing market via a very strong regional player in the North West."
Richardson was founded in 1983 and operates across the North of England covering Greater Manchester, Lancashire, Cheshire, Merseyside, North Derbyshire and Yorkshire. The business specialises in the provision of new build and refurbishment services to the social housing sector principally under a number of long term framework agreements. Richardson has offices in Rochdale and Leeds and employs over 350 staff of which some 180 are skilled trades people. The business will become part of Rok's Northern operations.
Founder and Chairman Alan Richardson will be remaining with the business for a minimum period of six months to oversee the transition into Rok. Managing Director Clive Walker and other senior managers, Stuart Bellfield, Derek Gooch and Jenny Kovacs have signed new service agreements for a minimum period of two years and will be remaining with the business in their present roles.
Alan Richardson commented: "This is an ideal opportunity for Richardson Projects to join a major player in the industry with a similar people orientated culture to our own. It will also provide national backing for the existing management team to continue Richardson's growth in the social housing market. The strength that Rok brings will enable Richardson Projects to enhance its service to its clients."