Tees are delighted to have advised the shareholders of Compliance Labelling Solutions (CLS) on its sale to the Asteria Group (Asteria). Based in Braintree, Essex, CLS is a BRC and ISO-certified label and tag manufacturer with over 40 years of experience serving clients across a range of different sectors. The business is highly respected in the industry and is known by its customers for high quality levels of service & product.
Asteria is an international group that produces a wide range of printed packaging materials such as labels, flexible packaging, and boxes. The group has grown rapidly and currently has thirty-three production sites in Belgium, the Netherlands, France, Germany, Denmark, Spain, UK, Estonia, Ireland, and Finland. This is Asteria’s third acquisition in the UK, following CS Labels and Berkshire Labels. The transaction will allow the Asteria Group to consolidate its footprint both in the UK and the food and beverage area.
After acquiring the company through a management buy-out back in 2015, the shareholders of CLS were looking to find the right partner to take the business forward while providing stability for its employees and customers. Asteria proved to be a perfect fit, as, despite its size, it maintains the SME spirit and will enable CLS to continue guaranteeing fast delivery times and excellent service levels to its customers. The opportunity to share knowledge and skill amongst the group also presents a significant opportunity for CLS under the ownership of Asteria. CLS will continue to be led by its current management team, Matt Day, and Geoff Nunn.
The Tees corporate team advising on the transaction was led by Partner Lucy Folley, with assistance from Associate Natasha Bhandari and Solicitor Nana Poku. Senior Associates Lucy Beck and Katherine Jameson provided support on the property and employment aspects of the transaction respectively.
Commenting on the transaction Matthew Day, Director, CLS said, “The expertise and professionalism of Tees made what was a daunting task manageable and painless. With a knowledgeable team on hand working hard on our behalf, it helped achieve a deal that satisfied both sides and ensured the continued success of Compliance Labelling Solutions.”
Geoff Nunn added, “It was a pleasure working with Tees, the level of advice received was excellent and the whole team worked extremely hard to ensure tight schedules were met throughout the sale process.”
Lucy Folley commented “We were delighted to support Geoff and Matt on the sale of their highly successful business and guide them through the legal process to achieve a successful outcome. The sale is excellent news for all parties involved and we wish everyone involved all the best for the future”
Rob Dukelow-Smith, Director Forward Corporate Finance who, together with Amie Goodland, assisted Geoff and Matt in finding the buyer commented, “It was a pleasure to assist Matt & Geoff on the sale of a really well-run business to an excellent acquirer. The positive outcome all around is a testament to all their hard work, and we wish Matt & Geoff every success with their new owners.”
Tax advice for Matt & Geoff was provided by David Richardson and Christine Ingram at Croucher Needham.
Chat to the Author, Lucy Folley
Partner, Company and Commercial, Brentwood officeMeet Lucy
- Areas of expertise
Legal 500 UK 2024
'The team was attentive to our needs, and knowledgeable in many areas that affected a business partner buyout, where complications required a multi-legal departmental approach. All worked well in delivering a successful result'
Legal 500 UK 2024
'Lucy Folley is outstanding. She is extremely knowledgeable and diligent'
Legal 500 UK 2024
'Corporate law partner Lucy Folley has made a great effort to understand our business and has consequently been well equipped to guide us as clients through what we would perceive as complex transactions. The relationship has been built up and strengthened over several years'
Legal 500 UK 2023
'Lucy Folley has been my main contact. One of Lucy’s biggest strengths is her pragmatism. In a number of deals Lucy has been involved in, the counterparty in our negotiations has commented on how fair her approach is. This has made it much easier for us to close positions'
Excitech - Peter
'Lucy is a standout professional; expert in her field, commercially aware, empathetic to business and individual pressures….and a pleasure to work with. She’s absolutely one of our team'
Legal 500 UK 2021
‘Lucy Folley has been handling commercial matters for our business for a number of years. Lucy has always shown a good understanding of the matters being dealt with and the requirements of the business‘.
Legal 500 UK 2021
‘My main contact within the organisation is Lucy Folley. She has provided legal assistance to me in a number of issues and has done so at a very high professional level‘.
Mr Jason Herring, Benfleet Forwarding Ltd
It has been a pleasure working with Lucy Folley and her team. Lucy’s understanding of the complicated process of selling a business became the overriding factor in reaching a completion. Lucy’s guidance and support to all shareholders throughout the sale process has been greatly appreciated.