Debt advisory

Raymond Brown Minerals and Recycling

Adviser to Raymond Brown Minerals and Recycling on its sale to Elysian Capital.

The deal

Acting as the lead adviser, our Corporate Finance team has successfully completed the sale of Raymond Brown Minerals and Recycling Limited (RBMR) to management, backed by Elysian Capital.

Our Corporate Finance team were appointed by the shareholders to complete a full sales and marketing process of RBMR, before agreeing to sell to the incumbent management team and Elysian Capital. This was a highly complex transaction which involved the demerger of the group prior to the sale. Operating as an independent business for over 60 years, RBMR is a leading regional integrated aggregates and recycling business operating across Hampshire, Dorset, Wiltshire and Oxfordshire.

Based in Chandlers Ford, RBMR has developed three equally strong business streams – aggregate extraction and provision through a network of strategically positioned quarries; long term strategic partnerships for the processing and recycling of incinerator bottom ash (IBA); and regional waste management and recycling through a network of high capacity material recovery facilities (MRFs). The Group has a strong reputation for product and service quality and environmental responsibility.

Under the leadership of Stuart Harris (MD) and Steve Clasby (COO), multi million pound investments have been made across its 12 site portfolio over the last three years, including a new IBA facility near Andover, Hampshire and a new quarry in Romsey, driving group sales in excess of £30 million and creating the platform for significant further growth. As a business with regional critical mass, RBMR has a number of exciting opportunities across each of its business streams to continue to develop its strong asset base and increase its footprint by taking advantage of strategic regional mineral reserves, waste recycling opportunities and develop further its presence within the high growth IBA market.

Legal advice was provided to the shareholders of Raymond Brown Minerals and Recycling Limited by Shoosmiths, and Senior Debt and Working Capital Facilities were provided by Lloyds Bank. DSA Prospect provided tax advise to the shareholders on the demerger process.

“We are thrilled to do this deal with Elysian. It was a complex transaction and Elysian not only grasped quickly what makes RMBR special and the nature of the opportunity ahead, but also demonstrated a real willingness and flexibility to make the transaction happen. We have ambitious plans and in Elysian we have a partner with both genuine operational in-house experience that can support us through the next phase and very strong alignment.” “Simon and James worked tirelessly across all areas of the transaction to get the deal done. There were a number of issues along the way as in any deal, but their problem solving and relationship with all stakeholders, including the buyers, helped find an effective and consensual way through. We are indebted to them for their expertise and tenacity.” Stuart Harris, Managing Director of RBMR.

“The Shareholders have worked with Simon over many years, and given the different transactions contemplated, including an MBO, were comfortable for him to be acting for all. This transaction, including the demerger, took an incredible amount of time and effort, and Simon and James worked unstintingly to get everything done to ensure the transaction got through to completion.” Kelvin White, Group Chief Executive, Raymond Brown Group Limited.

Deal summary

Sector:

Industrials and Manufacturing

Deal type:

Corporate Divestment, Debt Advisory, Management Buy-Outs

Deal size:

Undisclosed

We are thrilled to do this deal with Elysian. It was a complex transaction and Elysian not only grasped quickly what makes RMBR special and the nature of the opportunity ahead, but also demonstrated a real willingness and flexibility to make the transaction happen. We have ambitious plans and in Elysian we have a partner with both genuine operational in-house experience that can support us through the next phase and very strong alignment Stuart Harris Managing Director of RBMR

Related team

Simon Davies

Simon Davies

  • Partner
  • Corporate Finance
  • Reading, London West End

James Mines

James Mines

  • Partner
  • Corporate Finance
  • Reading

Ian Milne

Ian Milne

  • Partner
  • Debt Advisory
  • London West End, Reading

Simon Sherliker

Simon Sherliker

  • Partner
  • Debt Advisory
  • London West End, Reading

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