Thomson Snell & Passmore advises Doré Metal Services Southern Limited on its acquisition of M. G. Metals Limited

Thomson Snell & Passmore advises Doré Metal Services Southern Limited on its acquisition of M. G. Metals Limited.

Doré Metal Services Southern Limited, a leading distributor of non-ferrous metals in the UK with turnover of in excess of £13 million in 2023, has acquired Southampton-based M. G. Metal Holdings Limited. This strategic move, in line Doré’s ambitious growth plans, will enhance the operational capabilities of both companies, enabling them to better serve their existing customers while creating new opportunities for growth. The acquisition further solidifies Doré Metal Services Southern Limited’s position as a leading supplier of non-ferrous metals in the UK and beyond. Law firm Thomson Snell & Passmore advised Doré Metal Services Southern Limited on the deal.

The addition of the Southampton site will complement Doré Metal Services’ existing operations in Kent, Bristol and Hertfordshire, significantly enhancing the company’s ability to service the South of England and Wales.

Joanne Gallagher, Head of Corporate M&A at Thomson Snell & Passmore led the mid-market Corporate team on the purchase. She was supported by Faye Cook, Daniel Gorringe, Harry Roffey and Rachel Macmillan. Due to the nature of the transaction, the deal necessitated a multidisciplinary project team, which included Nitzan Cohen on Corporate Tax, Freya Vale on Commercial, Ben Stepney and Ashley Matthews on Employment and Joanne Wright and Katarina Bloodworth on Real Estate.

Kreston Reeves advised Doré Metal Services Southern Limited on corporate finance and accountancy matters, led by Craig Dallender.

The transaction involved complex regulatory issues as well as banking and finance workstreams. The project team also worked collaboratively with the seller’s lawyers on a number of pre-sale steps. All parties worked tirelessly in accordance with an accelerated timescale, with the deal closing ahead of the Autumn Budget.

David Hunter, Managing Director, Doré Metal Services Southern Limited’s comments: “I am delighted that we have successfully reached an agreement with the shareholders of MG Metals for a total buyout. Having established a long-standing and loyal relationship with MG Metals over the years, it was clear that our core business values were already aligned. This made the decision to join forces a straightforward one when the opportunity presented itself. I am incredibly excited about the potential this acquisition brings and the opportunity to build on MG Metals’ current success. With our combined resources and the experienced staff already in place, I am wholly confident that we will thrive together. I’d like to thank Joanne Gallagher, and the team at Thomson Snell & Passmore for getting this over the line before the deadline both parties had set. They have offered tremendous advice and support throughout the process to me.”

Joanne Gallagher at Thomson Snell & Passmore adds: “This was a really rewarding transaction to have been part of, helping Doré Metal Services bring its ambitious growth plans to fruition. We wish David and the rest of the team all the best as the organisation goes forward with a strengthened market offering.”