25-strong law team speeds Caradon deal

A team of 25 lawyers from SJ Berwin & Co and lawyers from seven other firms acted on Vector Industries' £200m purchase of more than 65 companies and 15 engineering and distribution businesses of building products group Caradon.

SJ Berwin's corporate finance partner Matthew Hudson said his team, representing Vector, had worked “day and night” on the transaction.

Vector Industries, a private group formed two years ago to purchase specialist engineering businesses, was backed with an equity stake worth £58.8m bought by Cinven and 3i, who were advised by Ashurst Morris Crisp corporate partner Jeremy Sheldon, and cash from the Royal Bank of Scotland and UBS, advised by Michael Barron of Dickson Minto.

Freshfields acted for Caradon with McKenna & Co advising on property issues. Sackers & Co advised Vector on pensions issues, Booth & Co advised 3i on some issues, and Dibb Lupton Alsop advised on financial assistance matters.