Thomson Snell & Passmore recently acted for the shareholders of Orpington Timber & Building Supplies Limited (OTBS) in relation to the sale of the company to Covers Timber & Building Merchants Limited.
Having been established in 1988, OTBS will now trade as ‘OTBS, Covers Bexleyheath’ as of 03 January 2018. This acquisition strengthens Covers’ portfolio of branches in the South East to 15 depots.
Former shareholder, Michael O’Kane said: "Covers has an enviable reputation in the trade so I am confident that OTBS will go from strength to strength under its guidance. We are pleased to be part of such an exceptional business."
The Corporate department, led the project team at Thomson Snell & Passmore and was assisted by Catherine Linsell, Solicitor in Commercial Property, Ben Stepney, Senior Associate in Employment and Joseph Hartland, Trainee Solicitor in Corporate & Commercial. Speaking of the deal said:
"It was extremely rewarding to advise the shareholders in passing on their historic legacy in OTBS to an enthusiastic Buyer. We look forward to seeing the company grow from strength to strength in the future."