Company News, Deals
Sale of Adcock Refrigeration
1–2 minutes
PEM provided M&A and tax advice to Adcock Refrigeration.
What we did
PEM were appointed by Adcock Refrigeration to provide M&A and tax advice. We supported the vendors throughout the negotiation process.
Company background
Founded in 1964 by John Adcock, Adcock Refrigeration had grown to become a widely respected organisation within the cooling and heating industry with 230 staff across multiple regional offices.
What was special?
PEM provided analysis and advice to the Vendors relating to completion mechanism, net working capital targets and input on the SPA drafting as required. This resulted in a significant uplift on day one consideration from the initial calculations.
Deal structure
Bowmer & Kirkland acquired 100% of Adcock Refrigeration and Air Conditioning from the Vendors.
Legal advice to the vendor was provided by Laurence Evans and Joe Greenstock from HCR Hewitsons.
Please note that this content is not intended to give specific technical advice. It is designed to highlight some of the key changes rather than provide an exhaustive explanation of the topics. Professional advice should always be sought before action is either taken or refrained from as a result of information contained herein.
