Kerman & Co LLP advised VolkerLaser, the UK’s leading multi-functional contractors, in buying certain assets of Talepine Limited (trading as Quickseal) following an announcement that the company went into administrative receivership on Friday 7 May 2010.
Following its re-branding last year as part of the VolkerWessels UK group, VolkerLaser has prepared ambitious growth plans for its business, in particular to expand it’s mainly civil engineering based portfolio into the construction, rail and London Underground markets. The specialist contractor has kick started its plans by helping to secure the continuation of employment and the existing contracts of Talepine Limited.
Mike Weaver, managing director of VolkerLaser, said: “Whilst it is a sad day when smaller companies like Quickseal have to make the tough decision to end their struggle against existing market conditions, it is our intention that we retain the majority of staff and honour the contracts held with long term clients. It is also an excellent opportunity for VolkerLaser to realise its expansion plans. VolkerLaser and Quickseal work in similar sectors and in some cases the same sectors. What this asset transfer will do is provide VolkerLaser with additional skills and experience in the building/construction side of the market, where our existing portfolio concentrates on the civil engineering market.”
Yvonne Donaghey, an Associate Partner in the Corporate and Commercial department at Kerman & Co, dealt with this matter.
