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5 May 2020 | Comment | Firm News |

Hugh James advises Development Bank of Wales on a multimillion-pound MBO deal

Hugh James has advised Development Bank of Wales on a funding agreement to assist with a multimillion-pound management buyout of a double glazing business.

Through a mix of loan and equity, the Development Bank has enabled the management team of Nolan uPVC to acquire the business from its current managing director, Nolan Nicholas.

With 56 employees, Nolan operates from a 52,000 sq ft facility in Johnstown, Carmarthen that includes a walk-in design studio. A further operational depot and design studio is located on North Road, Cardiff.

Natalie Lane, solicitor in the Hugh James Corporate/Commercial team, said:

“It was a pleasure to support Nolan uPVC and our client, Development Bank of Wales, on this management buyout of the business. This acquisition puts the company on a firm footing to further grow and develop. I wish the team every success as they continue to build on the great work the company has been doing since it was first established over 30 years ago.”

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Author bio

Aled Walters is a corporate, M&A and commercial partner who heads the commercial team. Aled advises on corporate and commercial matters, often advising on complex and high-value commercial agreements. He has significant experience advising on complex contracts and deals with a multi-jurisdictional dimension.
Aled Walters

Aled Walters

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Disclaimer: The information on the Hugh James website is for general information only and reflects the position at the date of publication. It does not constitute legal advice and should not be treated as such. If you would like to ensure the commentary reflects current legislation, case law or best practice, please contact the blog author.

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