Deal

Shakespeare Martineau advises on multi-million pound sale of Prolectric

Published: 3rd March 2021
Area: Corporate & Commercial
Our West Midlands corporate team has advised on the sale of Prolectric Services Ltd, a state-of-the-art lighting manufacturer, to international group Hill & Smith Holdings PLC for an initial cash consideration of £12.5 million.

Located across UK, USA, France, India and Australia, Hill & Smith Holdings PLC creates sustainable infrastructure and safe transport through innovation, including galvanizing services, roads safety and security products, and utilities products and services.

Prolectric is a UK market leader in sustainable lighting, power and security. It’s off grid solar energy solutions provide a practical way for businesses to measure the reduction in CO2 emissions versus diesel powered alternatives and meet carbon-saving commitments, as well as reduce noise pollution.

Duncan James said: “This is yet another great example of a fast-growth entrepreneurial businesses taking the next step in its growth journey. We’ve worked with shareholders at Prolectric for many years and are delighted to support this great deal that benefits both parties.”

The acquisition will enhance Hill & Smith’s product portfolio and give the Group a deep understanding of solar technology. Shareholders from Prolectric Services Ltd, including the management team, will be staying with the business.

Gregg Poulter, finance director at Prolectric Services Ltd said: “This deal is good for both parties. Our tried and tested products provide an innovative no emission solution for Hill & Smith’s client base and we gain access to global markets that will benefit from our products, as well as being able to maintain our brand.

“This is a really important milestone for us and the team at Shakespeare Martineau gave the shareholders commercially focussed legal advice which helped bring the deal to a successful conclusion. We’re thrilled with the result of this deal and look forward to an exciting future for Prolectric.”

Contact us  

Find out how our corporate team can support your business.

Our corporate team is ranked as a Leading Firm in the Legal 500 2021 edition.

From inspirational SHMA Talks to informative webinars, we have lots of educational and entertaining content for life and business. Visit SHMA® ON DEMAND.

How can we help?

Our expert lawyers are ready to help you with a wide range of legal services, use the search below or call us on: 0330 024 0333

SHMA® ON DEMAND

Listen to our SHMA® ON DEMAND content covering a broad range of topics to help support you and your business.

Birmingham Curry Club

13 Nov

Jody Webb, Partner
Birmingham Curry Club

Our next networking lunch will take place on Wednesday 13 November 2024 at Ashas […]

Data Protection webinar: DSARs and Erasure requests

26 Nov

Trevor Fenton, Partner
Data Protection webinar: DSARs and Erasure requests

“I want a copy of every email you have with my name in it. […]

HR Forum: Breaking down the Employment Bill – what will the reforms mean for business?

27 Nov

Rhys Wyborn, Partner | Sandeep Leighs, Partner
HR Forum: Breaking down the Employment Bill – what will the reforms mean for business?

This session will also provide an opportunity to share thoughts on the proposed changes […]

How to successfully sell your Dental Practice

27 Nov

Katie Taken, Partner
How to successfully sell your Dental Practice

Masterclass for Principal Dentists who want to understand their options and learn about the […]