Charles Russell Speechlys acts for Cmostores Group on its acquisition of JTM Plumbing
Charles Russell Speechlys has advised CMO Group Plc, UK’s largest pureplay online retailer of building materials which recently listed on AIM, on its acquisition of JTM Plumbing Limited in a deal worth up to £5.7m.
Consistent with CMO’s growth ambitions and strategy to be able to offer everything needed by the homeowner or tradesperson to build a home, the acquisition establishes a foothold for CMO in the approximately £800m online plumbing and heating market and is highly complementary to CMO’s existing range of specialist categories. The business will be marketed under the name plumbingsuperstore.co.uk.
Dean Murray, CEO, CMO commented:
“In a deal that had time constraints it was critical that we had best in class advice. The whole team at CRS were brilliant. It was of huge benefit that we could access expertise from so many separate areas.”
Rebecca Burford, Corporate Partner, Charles Russell Speechlys commented:
“It was a pleasure to work with Dean, Jonathan and the rest of the team at CMO. Their commitment to the growth strategy played a big part in getting this deal over the line, and we were quickly able to bring together our multidisciplinary skillset from across the firm.
“CMO’s vast range of products, with the addition of JTM Plumbing’s portfolio, provides for a unique market positioning, and I look forward to watching them grow as a leading retailer in this sector.”
The advice on the acquisition was provided by a collaboration between Charles Russell Speechlys’ advisors in Guildford and London. The team was led by Charles Russell Speechlys Corporate Partner, Rebecca Burford and supported by Corporate Associates Pei Li Kew and Laura Crotch, Commercial Senior Associate Caroline Young, Commercial Associate Olivia Crane, Tax Partner Helen Coward, Tax Associates Anna Reynolds, Elliot Michaelson and Tessa Newman, Pensions Legal Director Esther White, Employment Legal Directors Andy Williams, Employment Senior Associate Rachel Hearn, Employment Associates Amelia Goodwin and Jack Vaughan, and Real Estate Senior Associate, Mark White.
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