A team of corporate lawyers from Walker Morris has provided corporate legal advice to specialist waste management business, Augean, on its acquisition of Colt Holdings and its subsidiary, Colt Industrial Services in a £13.95m deal.
Based in Hull and established over 25 years ago, Colt provides a broad range of industrial services, which complement Augean’s existing service offering, to a range of customers including major industrial companies, oil refineries, rail and utilities.
Augean will pay an initial sum of £9.2m, net of £4.5m of cash acquired, with additional potential earn-out based payments of up to £4.75m, subject to Colt securing certain contracts.
