Walker Morris seals £530m paints deal

LEEDS-based Walker Morris carried off the biggest deal handled by a law firm outside the City when it advised paints group Kalon in the £530 million purchase of Euridep.

The transaction is the biggest of four in which Walker Morris guided several Yorkshire companies which bought and sold businesses worth nearly £570 million.

Managing partner Peter Smart says the trade illustrates the importance of having big clients outside the capital. "Most of our corporate clients are northern-based with just one or two exceptions."

Walker Morris negotiated on behalf of Kalon - based at Birstall, near Dewsbury - when it bought Euridep from the French oil conglomerate Total last month.

A team of 13 lawyers from the firm's corporate department tied up the deal with the seller's representatives Freshfields, at the Paris offices of Slaughter and May. Smart says: "It is an interesting and unusual deal because we have got Kalon acquiring something three times its own size."

Walker Morris also acted for York-based travel company Superbreaks in the £25 million purchase of camping holiday company Eurocamp. Alsop Wilkinson acted for the buyers.

Walker Morris also represented Leeds-based Kunick when it bought the Relaxion leisure group for £10 million, and Roseby's of Rotherham, when it took on 90 Brentfords stores from Lonrho for a sum of £4 million.

Barnett Alexander Chart acted for Relaxion, while Nabarro Nathanson acted for Lonrho in the talks.