Our Corporate Finance team recently advised on the sale of a majority share in W.E.S to the leading Scottish engineering group, Ross-shire Engineering Limited (RSE) for an undisclosed sum.
With 50 staff based in Basingstoke, W.E.S is a market leading chemical dosing systems provider specialising in design and manufacture for the UK water industry.
Leading Scottish engineering group, RSE, specialises in Water Treatment & Clean Energy Solutions. Spread across ten locations, RSE’s 800+ staff are trained in the design, engineering and delivery of Mechanical, Electrical, Instrumentation, Controls and Automation projects. Like W.E.S, RSE design and build chemical dosing systems as part of its offsite manufacturing offer to the UK water industry.
The deal sees RSE take up a majority equity share in W.E.S and further enhance their presence in the South of England, consolidating the engineering group’s position as one of the country’s leading specialist water treatment and clean energy solutions providers. W.E.S Directors, Kevin Wheeler and Bob Cook, remain with the business, and look to realise the benefits of becoming part of a larger group with complementary skillsets.
Led by John Foundling, the corporate finance team at Menzies LLP advised W.E.S on all aspects of the disposal, structuring and negotiating the deal and managing the due diligence process during Covid-19 leading to its successful completion.
W.E.S Managing Director Kevin Wheeler welcomed the partnership as a timely support to W.E.S. growth ambitions:
“Since forming W.E.S. 25 years ago, we have achieved sustained year-on-year growth. We are looking forward to continuing the journey with the greater capacity, business support and proven growth experience of our new colleagues at RSE. Menzies played a crucial role not only in selecting the right party but keeping the transaction on track from the outset of Covid-19, it was really reassuring having such an engaged and experienced team working in our interests to ensure the deal was completed… given our experience, we wouldn’t hesitate to recommend working with them.”
John Foundling, Menzies Corporate Finance Partner, commented:
“Completing the transaction during Covid-19 presented a unique set of challenges not least managing a largely remote sale and due diligence process. This is a great deal for both parties with excellent geographical and skills fit especially as the water industry benefits from increased spending in AMP 7. We were delighted to advise W.E.S on this transaction and look forward to seeing them continue to prosper within the RSE group.”
For further information, please contact John Foundling directly via email at firstname.lastname@example.org or call +44 1489 566 706.
About Menzies Corporate Finance
Our award-winning team take a quality driven, proactive and personal approach to advising transactions. Our corporate finance team will provide you with director-level advice and support, while working alongside other Menzies employees from the wide ranging skill set available within the firm, to ensure that the advice we give encompasses all your needs.