32 DEALMAKERS
MBO MEANS NEW CHAPTER FOR LEGAL FIRM
By Rob Kelly
Harrison Drury has been bought by six members of its management team in a move that retains its independent ownership and will lead the firm into an “exciting new chapter”.
Zuber Issa
ZUBER ON THE MOVE TO CREATE ‘RETAIL POWERHOUSE’
Zuber Issa, the co-founder of EG Group and former co-owner of Asda, has made his first acquisition since the breakup of the business empire built with his brother Mohsin.
His Blackburn headquartered petrol forecourts business EG On the Move has taken over almost 100 sites from service station operator Applegreens, as predicted in the last issue of Lancashire Business View.
The deal, announced in early February, was described by the business as a move to “create a retail powerhouse” in the independent petrol forecourt sector.
Zuber acquired the forecourt division of EG Group, the company he co-founded with Mohsin in 2021, in a £228m deal last June, renaming it EG On The Move.
The Applegreen UK network is made up of almost 98 sites along with around 40 foodservice concessions. No figure has been put on the acquisition.
Following completion, EG On The Move will own and operate around 151 petrol forecourt stations nationally and a further 209 foodservice concessions, along with around
40 locations offering access to more than 200 fast EV charging ports.
The deal includes the Applegreen fuel card business and will also grow the company’s workforce to more than 4,500. Zuber said: “We look forward to integrating the Applegreen UK business into EG On The Move.
“This acquisition is a natural fit, and enables EG On The Move to continue to redefine convenience retail and mobility for our customers, with a strong focus on quality, innovation and sustainability.”
He added: “Customers and stakeholders can expect a seamless transition. Updates on site facilities, retail initiatives and brand partnerships will be shared in the coming months.
“Our network is poised to deliver enhanced customer experiences that reflect the growing welfare and retail demands of those who travel for work, social reasons or live in the surrounding area.”
In November last year it was revealed that investment bank Rabobank had become EG On The Move’s “strategic partner”, providing new working capital facilities to support its “exciting growth plans”.
The MBO was led by partner and head of the firm’s property and construction division, Simon England, together with existing partners Nick Booth, Hannah Hughes, Malcolm Ireland, Rick Life and Mark Traynor.
The deal will see Simon England, who is a current shareholder, assume the role of managing partner, with current majority shareholder and executive chairman John Chesworth becoming senior partner and supporting the new ownership team.
Law firm Harrison Drury has enjoyed a rapid rise since John Chesworth acquired the firm in 2007 from Eddie Starkie.
Under John’s leadership, it has grown from a firm employing 12 staff from one office in Preston to now employing 190 staff across eight situated in Clitheroe, Garstang, Kendal, Lancaster, Lytham, Manchester, Preston and Southport.
Simon England said: “Independence is at the heart of who we are. Retaining this ensures we can uphold our commitment to being a truly people- centred organisation. This enables our lawyers to enjoy the freedom of serving our clients – owner- managed businesses, entrepreneurs, and high- net-worth individuals – the way they know best.
“The firm has embarked on a remarkable journey under John’s leadership, thriving in an intensely competitive legal marketplace and earning a reputation as a leading employer. This reputation attracted me to the firm in 2013, as it did for the exceptional professionals who work across all our teams and offices.
“Since becoming a shareholder in 2014, John and I have focussed on recruiting, developing and retaining talented people who share our values. Today, we’re proud to have a hugely talented and aligned ownership team and partner group, well prepared to guide the firm into an exciting new chapter.”
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