Slaughter and May is advising Marshalls plc (Marshalls) on its proposed acquisition of Marley Group plc (Marley) from Inflexion Buyout V Investments LP, Inflexion Supplemental V Investments Limited Partnership and certain management sellers (together the Sellers) for a total enterprise value of £535m on a cash free and debt free basis (the Acquisition). Marley is a leader in the manufacture and supply of pitched roof systems to the Great Britain (GB) construction market.
The Acquisition will be financed through consideration shares being issued to the Sellers and cash consideration from new debt financing arrangements and an equity capital raising. The equity capital raising, which is structured by way of firm placing, placing and open offer, is expected to raise gross proceeds of c.£187m.
The Acquisition constitutes a Class 1 transaction for Marshalls and therefore is conditional upon, amongst other things, the approval of Marshalls’ shareholders.
Tobias Begemann / Visiting Lawyer
Jardelle Johnson / Trainee, Ollie Cantrill / Trainee, Christy Conlon / Trainee, Caroline Carney / Trainee