Brodies has advised the shareholders of Clear Solutions on its sale to Shrieve, a leading US-based global chemicals distributor.

The transaction will provide Clear Solutions with further opportunities for wider global reach for its products, including the Pure-Bore® platform, which works to reduce waste in drilling processes.

Clear Solutions, based in Wem, Shropshire, is a developer, producer and retailer of drilling fluids with a presence across the UK, Germany, the Netherlands, and Texas, U.S.

Shrieve is a Texas-based distributor of chemical products operating across more than 40 countries. With private equity backing from Gemspring Capital, it has undertaken a series of acquisitions in the UK, of which Clear Solutions forms a key part.

Brodies secured a successful exit for the sellers from a business that they had built up over the course of more than 20 years: from a local producer to an international, cutting-edge player in the field.

The Brodies team was led by partner Neil Burgess and included:

  • Corporate M&A: Paul Breen (director), Alasdair Dunn (senior associate); and Curtis Preston (senior solicitor)
  • Corporate tax: Karen Davidson (partner)
  • Real estate: Philip Hunter (partner); George Sismey-Durrant (senior associate); and Sarah Pearson (associate)
  • Employment: Fiona Herrell (partner); and Craig Asbury (senior associate)
  • Commercial services: Andy Nolan (partner); Kimberley MacNeil (associate); and Amelia Wilson (senior solicitor).

Cross border support was provided to the sellers by Kolja Petrovicki at SKW Schwarz (Germany) and Gary Miller at BoyarMiller (Texas, USA). FRP provided accounting advice to the target. Parisi Tax advised the sellers personally.

We were very well served by Brodies throughout. Neil Burgess and his team combined genuine commercial judgement with real technical depth, and brought a flexibility and pragmatism that kept a complex, cross-border transaction moving calmly to a successful close within a demanding timescale. They protected the shareholders' position at every turn and were a real pleasure to work with.

Glynn Williams, president of Clear Solutions

Contributor

Neil Burgess

Head of Corporate and Commercial & Partner

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