FRP Corporate Finance has advised Sussex-based Littlewood Group on its sale to utility and infrastructure service provider Network Plus.
Headquartered in Battle, East Sussex, Littlewood Group provides security and barrier fencing for utilities, motorways and national infrastructure projects, boasting a range of clients, including HS2, the National Grid and National Highways.
The business has now been acquired by Network Plus, a private equity-backed firm that works with the UK’s major providers of gas, electricity, transport and water, including Severn Trent, UK Power Networks and Cadent Gas.
The deal will allow Littlewood to benefit from access to Network Plus’ extensive sector experience as it seeks to strengthen its market position and meet its strategic growth objectives.
FRP Corporate Finance’s Brighton team, led by partner Adrian Alexander, associate director Nick Lovelock and executive Oyin Quadri, was appointed by Littlewood to manage the business’ sale.
The team supported on all stages of the deal, helping Littlewood to assess the offer before assisting with negotiations, due diligence and all of the financial aspects during the completion process, allowing the deal to be completed with a fast turnaround.
Adrian Alexander said: “Littlewood Group is a business with a strong reputation for delivering high-quality service in its sector. We are pleased that the company has been sold to a buyer whose strategic growth aligns with our client, making it an excellent fit.
“All the parties really wanted to make the deal happen to a very tight timetable. It was a pleasure to work with the teams on both sides of the transaction.”
Jon Hobden, managing director at Littlewood Group, said: “We are excited to become part of the Network Plus group. This is an exciting new chapter for Littlewood, and I am confident that our combined strengths, relationships and expertise will help drive the business forward, delivering an even better service for our clients.”
Other advisers on the deal included Shakespeare Martineau (sell-side legal), Gunnercooke (buy-side legal) and RSM (financial due diligence).
