Knights advised on the purchase of a company that provides industrial drainage services to blue chip clients across a range of a sectors – in a deal that takes the business back into the ownership of its founder.
Birkenhead-based NRC Waste Water Solutions was established by managing director Gary McDermott in 2003 and grew from a team of seven staff to a workforce of 120 people when it was bought by US-based business NRC in 2018.
When the opportunity arose for Mr McDermott to buy back the business, he turned to Knights’ team for advice on the deal which was funded by a £3 million asset finance and invoice discounting facility provided by Bibby Financial Services.
Knights’ team was led by Corporate Partner Rachel Bennett with support from Alex Morris and Phil Coates, plus support from Partner Graham Hall on Banking and Partner Ben Travers on Intellectual Property.
Gary McDermott said:
“Buying back the business I founded two decades ago was an offer I couldn’t turn down.
“I’m so proud of our team here at NRC Waste Water Solutions, and could not be more excited to continue expanding our services, sectors and workforce to serve our growing client base.”
Rachel Bennett, Partner at Knights, said:
“It’s been a pleasure to work alongside Gary. His passion for NRC Waste Water Solutions is obvious, so it was a great chance for our team to make sure everything was in order for him to regain ownership. We’re looking forward to seeing the business go from strength to strength.”
Knights is one of the fastest-growing legal and professional services businesses in the UK – ranked within the top 50 UK law firms by revenue, with specialists in all key areas of corporate and commercial law.