Girlings corporate team have recently advised long-standing clients, Ian Posnett and Mike Darling, in relation to a management buyout of the WW Martin Group.
Established in 1877 and with a strong reputation across all construction sectors, WW Martin has grown significantly under the stewardship of Ian Posnett and Mike Darling to establish a reputation as one of Kent’s leading main contractors with a turnover in excess of £60 million. The group has been bought out by the existing management team, enabling Ian and Mike to step away from the business after an agreed handover period that is set to conclude at the end of the calendar year.
The Girlings team advising on the sale was led by head of Corporate, Chris Brightling. Chris was assisted by Corporate Partner, Jonathan Masucci, and Associate Solicitor, Elesha Bradford to secure the sale of the business. The management team were advised by Cripps.
Chris said of the completion: “Having worked with Ian and Mike over a number of years, we are proud to have supported them through this significant milestone. It’s been a pleasure working with individuals whose personal drive and professionalism have shaped the business towards this transition. This buyout marks a new era for WW Martin, an exciting opportunity for growth and a promising future. We look forward to seeing the continued success of the business, building upon the strong foundations set by Ian and Mike.”
Client, Ian Posnett said: “I just wanted to say it has been an absolute pleasure working with Girlings over the years and the MBO in particular, I think all three of you were absolutely brilliant and I know I speak for the both of us in that you were a joy to work with and we couldn’t have asked for a better team to complete the MBO. Whilst your technical and legal knowledge is never in question, I think my overriding memory will be that the three of you are passionate and care.”
The transaction is the latest in a long line of recent successful corporate transactions for the team across Kent and the South East. If you would like to discuss a possible management buyout or any other Corporate and Commercial Law matter, please contact Chris, Jonathan or Elesha.
