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Azets has advised on the sale of P&P Non-Ferrous to Bornmore Metals.
P&P Non-Ferrous is a Dudley-based stockholder, processor, and distributor of non-ferrous metals. It was established in 1982 and is a long-term client of Azets at its Wolverhampton office.
Bornmore Metals, a UK leading supplier of non-ferrous metals, acquired 100% of P&P’s ordinary share capital in the firm’s second acquisition of the past year. Bornmore Metals is a group company alongside Steel Dynamics and Offshore Stainless Supplies, with over 100 employees and combined revenues of over £40m.
According to the firm, Martin Poole, corporate finance partner, and Tom Eastwood, associate director, advised P&P throughout the transaction and both were integral to the financial and legal due diligence process, as well as the negotiation of the deal terms with Bornmore Metals.
Poole said: “We advised throughout the process, from the very first enquiry in early 2021 through to completion. With the help and support of all involved, we were able to conclude the transaction and achieve a great outcome for our long-term client.”
Phil Lowry, chairman of P&P Non-Ferrous, added: “I’d like to place on record my thanks to Azets and everyone involved in delivering a great result for our business and Bornmore Metals. We found the right buyer to take our business forward and the teams worked hard to get the sale done.”
The legal process was led by Emily Parkes (associate) and Adrian Cutler (partner) of Higgs and Sons LLP.
