InsightsNews - Corporate, Banking and Finance - POSTED: August 6 2020
Brachers LLP acts on the sale of Rainbow Water Services to Marlowe Plc
Despite the current challenging conditions, Brachers has reported steady work in mergers and acquisitions over recent months, with the completion of another deal.
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Rainbow Water Services is a specialist industrial water treatment company providing legionella control and water treatment and hygiene services to a broad range of customers within London and the surrounding counties.
Rainbow Water Services was established more than 28 years ago by Dane and Mary Henderson and operates from its premises in Ashford, Kent. Shareholder Mary Henderson sits on the management committee of the Legionella Control Association (LCA), the industry standards body.
Marlowe Plc is a UK-leader in specialist services which assures safety and regulatory compliance, whilst managing risk for businesses across the country. Rainbow Water Services will be integrated into WCS Group, a nationwide specialist Industrial water treatment company and part of the Marlowe Plc Group.
The deal was led by Corporate Partner Matt Simmonds, with support from Employment Partner Antonio Fletcher and Commercial Property Partner Emma Anderson. Kreston Reeves LLP also provided accountancy support on the transaction. Fieldfisher acted for Marlowe Plc.
Mary Henderson, Director at Rainbow Water Services, said: “I am delighted that Rainbow has become part of the Marlowe Plc/WCS Group. This will help the business that Dane and I have built over the past 20 years to continue to thrive and grow. We are grateful to the team at Marlowe Plc/WCS Group for their support and excited for their plans for the future.
“Matt Simmonds and the team at Brachers LLP were key to the success of completing the deal. Dane and I are extremely grateful to Matt and his team for all of their expert help and guidance during the process. The team at Brachers LLP should be proud of the role they played in getting the deal successfully completed.”
Matt Simmonds added: “I am delighted for Mary and Dane on the successful sale of Rainbow Water Services. They have built a great business over the past 28 years based upon their expert knowledge of the sector and exceptional service to their clients. It is great to see that the buyer will invest in that business to allow it to continue to flourish.
“Thank you also to Steven Morley at Kreston Reeves for his support during the process. A great team effort to get the deal completed during these unusual times. Congratulations once again to Mary, Dane and also the team at Marlowe Plc/WCS Group.”
Brachers has found that the current climate has not deterred deals in recent months, with the firm recently completing on a number of deals, including advising on the sale of Chertsey Road Limited to Character IB Limited, and the sale of JIB Insurance Brokers Limited to Ethos Broking.
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