Northbridge Industrial Services plc is an AIM quoted group of companies that hire and sell specialist industrial equipment supplying a non-cyclical customer base including utility companies, the public sector and the oil and gas industries. Northbridge has been acquisitive and continues to seek to acquire specialist businesses that have the potential for expansion into complete outsourcing providers.
Northbridge required funds to expand its hire fleet in line with the Group’s strategy of acquiring and developing rental assets to further complement its existing hire equipment activities.
Northbridge engaged Cattaneo LLP to work with its existing advisers to project manage the Open Offer process. The timetable was extremely tight and Cattaneo LLP was appointed with the target receipt of funds one month later. This required a circular to shareholders to be posted just two weeks after our appointment.
WHAT OUR CLIENT SAID:
‘I’ve no doubt that the transaction went smoothly due to Cattaneo LLP’sdetailed planning and tight control of the process. I was very comforted by the timetable and control documents used and the clear and open communication throughout the process.’
Ash Mehta, Finance Director