LAW firm Ward Hadaway has completed a £28m deal for waste company Shanks.
The North-East firm advised Shanks Group plc in the sale of its UK hazardous waste operations - Hazwaste Activities - to Onyx Environmental.
Ward Hadaway beat competition from law firms across the UK to take the role of lead advisor to Milton Keynes-based Shanks. The move follows Shanks' decision to focus its UK operations on the emerging market for long-term municipal waste contracts, using new technologies, and on the recycling of non-hazardous industrial and commercial waste, as landfill tax increases.
The major Hazwaste Activities assets sold include eight chemical treatment plants - including two in Hartlepool and Stockton. Ward Hadaway advised Shanks on all legal aspects of the deal, including corporate, property, environment, pensions, employment and competition law.
Duncan Reid, corporate finance partner, who led Ward Hadaway's team throughout the year-long deal, said: "Acting for a major plc from outside the region on a large-scale, high-value strategic transaction with multi-site considerations made for a challenging deal for the team to work on.
"There were lots of complex environmental and other issues to consider in an industry full of legal challenges.
"We were delighted to play an important part in achieving the sale of Hazwaste Activities and wish both Shanks and Onyx all the best for the future."
Ward Hadaway's Martin Hulls said: "The strength and depth of expertise throughout the corporate finance team was instrumental in winning this significant contract, demonstrating the firm's ability to deliver a top-notch service."
Glasgow-based McRoberts acted for Shanks in Scotland.
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