Price Bailey Strategic Corporate Finance recently assisted Cambridge-based Headland Amenity, a specialist supplier of turf fertilisers, chemicals and wetting agents, to complete the sale of the company to the Irish quoted Origin Enterprises plc for an undisclosed sum. Origin is a leading amenity and sports turf supplier.
Price Bailey worked with Headland to negotiate the initial offer from Origin, assisting the vendors through the diligence process and project managing the sale process, enabling the vendors to focus on the continued success of Headland.
Founded in 1994 as a division of Headland Agrochemicals, a then British supplier of adjuvants and micronutrient products to agriculture, Headland Amenity was purchased as a MBO by its current directors in 2002. Since its formation Headland has pioneered the use of new chemicals and techniques in the UK and European turf and amenity markets.
The transaction was subject to Competition and Markets Authority (“CMA”) clearance, which was successfully received at the end of June.
Following completion Headland will continue to trade as a stand-alone business of Origin UK Operations and the existing Directors, Mark De’Ath, Mark Hunt and Andy Russell, will maintain their current positions.
Mark De’Ath, Operations Director at Headland commented, “Price Bailey provided the leadership and direction of this transaction proving their experience and pragmatism in handling what became a complex deal once it became necessary to consider a CMA clearance. Simon and his team kept us steady and focused throughout to completion working closely alongside our legal team”
“This transaction proved a timely opportunity for the Headland shareholders to realise the fruits of their labour whilst remaining committed to the future success of the business under Origin’s ownership,” said Simon Blake, Partner and Head of Price Bailey Strategic Corporate Finance.