Bevan Brittan advises Canal & River Trust on sale of marinas business

Bevan Brittan has advised the Canal & River Trust on the sale of its wholly owned subsidiary, British Waterways Marinas Limited (BWML), to private equity investor LDC.

Set up in 2004, BWML operates 18 marinas across England, with more than 2,500 moorings across its sites. 

Bevan Brittan’s role included working with BDO, the corporate finance advisors on the deal, to structure the deal, and establish an auction process for the sale.

The law firm helped evaluate the bids received and advised the Trust in negotiating and completing the deal with the preferred bidder, LDC.

Bevan Brittan said that in addition to the auction process and commercial due diligence, its work encompassed a broad range of areas including corporate finance, banking, property, pensions and employment advice.

The property aspects of the deal were particularly extensive, with Bevan Brittan advising the Trust on the lease arrangements across BWML’s marina sites.

Bevan Brittan corporate partner Chris Harper and property partner David Hobbs led the work. They said: “We were delighted to advise the Canal & River Trust in this key transaction. The deal involved many aspects and we were pleased to be able to deliver a team to advise across relevant areas, showing the strength in depth that we possess as a firm.”