Powering up ambitions as RWK Goodman advises on sale of Advantage NRG
RWK Goodman has advised on the £15.7m sale of a Chorley-based specialist overhead lines labour supplier to a national labour supply company.
The firm has supported shareholders Nick Adams and Aletia Bourne on the sale of long-standing client Advantage NRG to Hercules, which will allow the Chorley-based company to further expand its resources and capabilities within the growing power and energy market.
Advantage NRG, which employs 155 workers highly skilled in construction and maintenance of overhead electrical lines operating across the UK, will form a significant part of Hercules’ strategic plans to develop work within the energy sector.
The team supporting Nick and Aletia on the sale was led by partners Dominic Prentis and Catherine Hayes, with support from associate Hector Freyne and trainee solicitor Kayleigh Tang on corporate requirements. Specialist support was also delivered by partner Martin Pratt (employment), senior associates Amy Bennett-Mitchell (immigration) and Elizabeth Painter (construction), and solicitor Lewis Howell (real estate).
Dominic Prentis said: “This transaction brings together two energetic businesses; a private-owned, fast-growing and cash-generative specialist and a listed, ambitious group with dynamic management. It has been our pleasure to guide Advantage NRG, its directors and shareholders over many years and we are delighted to see them join up with Hercules.”
Gerry Defries of Defries Weiss provided support on financial matters for Advantage NRG, Nick, and Aletia, while Matthew Wentworth-May of Winslows advised on tax.
