New holdings group off to a strong start

February 4th 2014

Tilly Bailey & Irvine Solicitors, and their Wynyard Park neighbours Evolution Business and Tax Advisors LLP, have helped a new holding company complete its first acquisition.
 
John Walters, Corporate Law specialist at Tilly Bailey & Irvine Solicitors, was appointed by Doug Bedford and Alan Dutton of Tesserrae Holdings (2013) Ltd to complete the company’s acquisition of Cambmac Limited, a precision engineering firm based in Cambridgeshire.  John worked alongside Andrew Fotheringham at Evolution LLP who provided corporate finance, funding and accountancy support for the deal. 
 
John commented: “Tesserrae Holdings needed a legal team to work practically and efficiently alongside its directors and the company’s accountants.  Our corporate law team is experienced at working with other advisors, such as Evolution LLP, to ensure client’s commercial objectives are met within the required timescales.  Following completion of this acquisition, we are continuing to work with Tesserrae Holdings as the directors seek out further acquisitions.”
 
Andrew added: “Doug and Alan, the partners in Tesserrae Holdings, have developed a sensible business model, one based on their areas of expertise and skillsets.  It will be their enthusiasm for developing a collection of businesses that will make Tesserrae Holdings go from strength to strength.”
 
Doug Bedford and Alan Dutton launched Tesserrae Holdings (2013) Ltd with the aim of developing a specialist group of engineering businesses.  The Directors plan to acquire at least two further firms in the short term, ultimately building a group with turnover in excess of £40 million.
 
Doug said: “Our aim is to bring under the umbrella of Tesserrae Holdings companies with elements of diversity in terms of product and service but with strong synergies.  We can then develop those businesses not only to grow turnover and profitability, but to create new jobs.  We will then share the businesses’ success with the employees.
 
“We were keen to find advisors that would partner us through our acquisitions and growth, and we certainly found the right teams with Tilly Bailey & Irvine Solicitors and Evolution LLP.  In the last few months we’ve built up great relationships with both teams, and we’ve been impressed by how quickly they have been able to react and deliver support exactly when we needed it.”
 
Tilly Bailey & Irvine Solicitors is the Tees Valley’s largest full service law firm with offices in Wynyard Park, Stockton on Tees, Hartlepool and Barnard Castle.  It has a multi-disciplinary business law team, based at Wynyard Park, offering expertise in fields including commercial property, mergers, acquisitions and disposals, intellectual property, employment law and dispute resolution.  For further advice, contact Tilly Bailey & Irvine Solicitors on 01740 646000 or see www.tbilaw.co.uk .