Noahs Ark lands on high ground in chemical shares deal
Law firm Birketts has advised the shareholders of global chemical distributor, Noahs Ark Chemicals, on the sale of their shares to leading sustainable energy company Count Energy Trading BV. No figures are being disclosed.
The Birketts team advised majority shareholders and siblings, led by Dr Bharat Bhardwaj and Rashmi Bhardwaj, in the share sale of three separate companies – Noahs Ark Chemicals Limited, Noahs Ark Chemicals BV (Belgium) and Noahs Ark Chemicals GmbH (Switzerland) to Count Energy Trading BV (Netherlands).
Formed in Cambridge in 2001, family company Noahs Ark Chemicals is now a global trading and chemical distribution company which supplies thousands of tonnes of chemicals annually to destinations across Europe and around the world.
As a company with an annual turnover of over £58 million, Noahs Ark Chemicals has offices in Cambridge, Belgium and Switzerland and employs a multinational export team of associates in China, South Korea and The Americas.
The Birketts team was led by Mark Pinder and Grace Shek (Corporate), with assistance from Abigail Trencher (Employment), Andrew Priest (IP and Tech), Kitty Rosser (Data Protection), John Kahn (Tax) and Matthew White (Property).
Birketts worked closely with Chand Chudasama and Agne Pakalniskyte of Price Bailey with assistance from Belgian legal advisers Alain Costantini of Dear Krzewinski & Willez and Yasemin Varel of Staiger Law to bring the transaction to a successful close.
Dr Bharat Bhardwaj, general Manager of Noahs Ark Chemicals, commented: “We are very proud of the journey the organisation has been on since its inception in 2001 and feel that we have found the right investor in Count to help develop the company and broaden its offering and reach even further.
“We feel confident that Count’s acquisition of the group of companies will open up new opportunities for growth in the UK and beyond.”
In a separate important deal Birketts has helped construction giant Readie Construction Ltd with a transition to 100 per cent employee ownership.
The business remodel sees Readie become one of an increasing number of organisations in the UK favouring an innovative approach to employee wellbeing and succession planning.
Established in 2008, Essex-based and privately owned Readie specialises in high value commercial, industrial and retail projects. Offering clients a nationwide service, the company has become a leading name in the construction sector, generating an average turnover of £200m per annum.
Birketts team was led by Lisa Hayward (Legal Director, Head of Employee Incentives), Adam Jones, Ozan Zorba, Emily Broadrick and Heidi Jones (Corporate) with support from Xiaolei Liu, Jessica Kilkelly and Kirsty Scripps (Employee Incentives).
Executive chairman and majority shareholder at Readie, Stuart Read, said: “Readie has made its name forming lasting relationships and so it is important to us that we reward the employees who have been so integral to our success. We are confident that our dynamic and experienced team will benefit from this restructure.”