Shoosmiths Advises Civil Engineering Firm on Private Equity Deal

January, 2017 - Thames Valley, England

National law firm Shoosmiths has advised the shareholders of Dyer & Butler, a £118m-turnover regional civil engineering and building contractor, on its sale to a holding company of global private equity investment firm First Reserve.

Dyer & Butler builds, maintains and renews infrastructure within the public and private sector. Projects are undertaken principally for regulated clients in airports and rail for projects such as Heathrow, Gatwick and Network Rail.

The deal comes just months after First Reserve bought out Dyer & Butler’s new sister company, Morrison Utility Services, a historic provider of utility infrastructure services with revenues of more than £600m.

Shoosmiths’ corporate partners Emma Gibson led the deal, along with corporate associate Robert Pook and solicitor Michael Patterson. Tax support was provided by partner Daniel Kennedy and solicitor Rebecca Hawkins.

Neil Edwards, managing director of Dyer & Butler, said: ‘This represents an exciting step in our continued development and, with the additional support of First Reserve and our sister company Morrison Utility Services, we have the opportunity to strengthen and accelerate the growth of our business.

‘To this end, I would like to take this opportunity to welcome Jim Arnold (chief executive of Morrison Utility Services) to the Dyer & Butler board.’

Dyer & Butler is headquartered in Southampton with offices in Exeter, Gatwick, Heathrow, Swansea, Milton Keynes and Swindon.

Shoosmiths’ Emma Gibson, said: ‘We are thrilled to have supported the shareholders of Dyer & Butler on this deal. As the company goes forward, we wish every success to those involved in achieving its strategic ambitions.’

Shoosmiths' corporate team is top of the Experian Market IQ (Corpfin) UK & Ireland rankings for highest deal volume in the UK, London and in the South East. The firm advises public and private companies, management teams, investors and debt providers through the business life cycle. Shoosmiths works with businesses from start-up and first round finance through to mergers and acquisitions, MBO and MBI transactions, development funding and on exits, by way of sale, listing or private equity investment.