TLT has advised Francis Flower, the mineral resources company, on its significant acquisition of the Scunthorpe Ground Granulated Blastfurnace Slag (GGBS) facility from Hanson Cement.
GGBS is an environmentally friendly low CO2 cement produced from a by-product of the steel industry. The business, located at the Tata steel works in Scunthorpe, is capable of producing more than half a million tonnes of GGBS every year and supplies customers in the Midlands and North of England.
The acquisition followed a competitive bidding process arising from a study by the Competition and Markets Authority into the British aggregates and related markets.
The TLT team was led by corporate partner Andrew Webber and included banking partner, Jon Stewart; corporate associate, Antonia Silvestri; commercial associate, Sean Wright; real estate associate Edward Pitt; real estate partner Katherine Evans, as well as wider support from the firm's Real Estate, Energy & Renewables, Employment, Competition and Pensions teams.
TLT’s Andrew Webber said: "This deal marks the exciting next stage for Francis Flower and its ambitious growth. The acquisition of the plant and its product complements Francis Flower’s offering and enhances its position as a leading specialist supplier in the construction industry.
“A deal such as this always has its challenges, but to work with a long-standing client on such a transformational deal as part of a large, specialist team was a great experience and we're delighted to have played a part."
Adrian Willmott, Chairman and CEO of Francis Flower, said: "Andrew and all the team at TLT have worked tirelessly alongside us in completing this transaction that was by no means straight forward. Their wide spectrum of advice has certainly helped us get across the line in what is a hugely transformational deal for us.
"I'd like to thank all at TLT for their support, we have enjoyed working together and now look forward to finally getting started with our new acquisition."
TLT has particular expertise in aggregates and building products. The firm is an associate member of the Mineral Products Association, who are also a client, and regularly advises members on new legislation, compliance and regulatory issues.