Lupus announces £75m disposal

Lupus Capital, a supplier of components to the door and window industry, has entered into an agreement to sell the group’s oil services division, Gall Thomson Environmental to Copper Bidco, a company set up by Phoenix Equity Partners, for around £75m.

As a result of the disposal, Lupus will focus on supplying components to the door and window industry worldwide.

A team of lawyers from the Leeds office of Pinsent Masons, led by corporate partners Alison Starr and Andrew Black and corporate solicitors Chris Neal, Chris Watts and Jon Robinson, provided advice to Lupus Capital.

The buyer, Phoenix Equity Partners, was led by John Rastrick and Barry Robinson from the Phoenix Equity Partners’ Leeds office.

Jamie Pike, the non-executive chairman of Lupus, said: “The disposal of Gall Thomson marks the completion of the restructuring of Lupus as a focused supplier of components to the door and window industry worldwide. The group now has the financial flexibility to achieve its strategic goals and to accelerate the development of the building products division.

“The board believes the group’s increased focus on building products will yield significant returns for shareholders over the medium term.”