January 5, 2021 @ 10:36 by Steven Hugill
A road surfacing and highway maintenance contractor has been tipped to have a “very bright future” after joining forces with a national operator.
Northumbrian Roads has been sold to a global construction group’s domestic road building division.
Bosses at the unnamed buyer say the deal will help strengthen its position in the infrastructure sector, which they believe will be critical to the economic recovery following the COVID-19 pandemic.
Based in Prudhoe, Northumbrian Roads runs depots out of the Port of Tyne and the Port of Sunderland.
Established in the 1980s by the late John Lynch and business partner George Barton, it counts the re-surfacing of Sunderland’s Wearmouth Bridge among its list of high-profile works.
Its sale was supported by Newcastle-based advisers from accountancy firm MHA Tait Walker and commercial law firm Muckle LLP.
Sean Lynch, Northumbrian Roads’ owner, said: “Ever since the company was founded by my father and business partner George over 31 years ago, we have progressively grown the company, focusing on strong relations with our customers, teamwork and innovation, complemented by the highest quality materials and a first-class service.
“The takeover process was made smooth and the legal and financial aspects were carried out in such a professional manner by both Muckle LLP and MHA Tait Walker that we had confidence we were doing the right thing for the company to move forward.”
Steve Plaskitt, corporate finance partner at MHA Tait Walker [pictured], led the disposal team, with Adrienne Paterson providing taxation advice to the sellers in readiness for the sale.
Steve said: “It is great for the Lynch family to be able to sell their shares and to see the company their father founded many years ago become part of a larger group and to continue to serve the North East.
“I am sure the business has a very bright future.”
Muckle LLP’s corporate lawyers Matthew Walsh and Sara Worsick advised the sellers on the legal aspects of the sale, with commercial property advice coming from real estate lawyer Deborah Lazenby.
Matthew Walsh, corporate partner, added: “We’ve advised Northumbrian Roads for many years and it is no surprise the company has attracted the attention of a national leader in its field.
“It is a very well-run business and, with the added support the acquisition will bring, I’m sure it will continue to thrive within our region.”