Member Article

Teesside's Archers Law advises on 13.7m Whitestone Sale

Teesside law firm Archers Law has advised Hartlepool carpet manufacturing company Whitestone Group on the sale of its companies to manufacturer Victoria Group in a deal worth up to £13.7 million.

Whitestone employs more than 100 people and designs, sells and distributes carpets across the UK. All key senior management of Whitestone will remain with the business and it will continue to operate independently in Hartlepool while benefiting from the synergies of an enlarged group.

To complete the deal, David Adams, John Richardson, Angela Torrance, Patrick Quigley and Elizabeth Casey from Archers Law provided legal support. Andrew Moorby from Tait Walker provided advice on tax and accountancy aspects of the deal.

The Hartlepool-based group comprises Whitestone Weavers, Carpet Line Direct, Gaskell Mackay Carpets, View Logistics and Thomas Witter Carpets.

Steve Byrne, Managing Director of Whitestone Group says “There are many synergies between the newly enlarged groups, not just in terms of logistics, but also in the wealth of experience and management talent.

“It was quick turnaround deal completed in 4 weeks and we are very pleased with the legal support from Archers Law and accountancy advice from Tait Walker. The senior management team will continue its involvement in the running of the business and the North East part of the group will still be run from Hartlepool, keeping a great business in our region.”

David Adams, Partner and Head of Business Services at Archers Law says “We are extremely pleased to have assisted Whitestone Group in the sale. Due to the very demanding timescales for completing this transaction it was vital that we were able to work efficiently using a range of legal specialists across the firm. We are very happy to help them deliver on their strategic objectives”.

This was posted in Bdaily's Members' News section by Archers Law LLP .