Tees advises Moralis Group Limited on its disposal of G.B.N Services Limited

Tees has advised long-standing client Moralis Group Limited (Moralis) on the sale of G.B.N Services Limited (GBN) to Reuse Holdings Limited, part of the wider Sortera Group (Sortera).

GBN was incorporated in 1986 and has grown to become the leading skip hire, recycling and waste company for construction, commercial and household customers across the Southeast of England. GBN has a strong regional presence supported by established UK-wide partners.

Garry Hobson, Managing Director of GBN, said: “This transaction marks an important milestone in what has been a very successful journey for GBN so far, and I am happy that we are now part of Sortera. Sortera shares many of the same success factors as GBN with an entrepreneurial vision, a passion for customers and a strong focus on sustainability. They are a strong partner which will allow for further investment into and development of GBN, which will benefit both the market and our end customers.”

Sortera is a leader in the collection, recycling, processing and sale of residual products from the building and construction sector within northern Europe. Having acquired London-based O’Donovan Group Limited in June 2022, Sortera’s acquisition of GBN represents an additional strategic, geographic investment for the company in the south of England.

Sebastian Wessman, CEO of Sortera, commented: “Sortera is very excited to welcome GBN Services to our UK operations. GBN has built a very strong reputation in the London market with a strong focus on customers, quality and sustainability led by a passionate and experienced team of employees. GBN’s way of working is very much aligned with Sortera’s core values, and we are very happy to add them to the growing Sortera family.”

Corporate Partners Lucy Folley and Baljeet Kaur, with support from the wider Tees Corporate team, advised Moralis on the corporate aspects of the transaction. With sites in Edmonton, Rochford, Southend, Harlow, and Uxbridge, there was a sizeable commercial property aspect of the sale of GBN. Partner Aaron Cane and Senior Associate Lucy Beck advised Moralis on the real estate components of the deal.

Lucy Folley said: “We are proud to have supported and advised long-standing client, Moralis, on this substantial transaction in the commercial recycling and waste disposal sector. Our lawyers have the knowledge and expertise required to truly understand our clients' industries, which allows us to navigate them through the thorniest of their legal issues and provide practical, tailored solutions at every given opportunity. It was a pleasure to work once again with the Moralis team and we wish them every success in the future.”

Tees worked alongside LB Group, which provided advice to Moralis on the financial and accountancy aspects of the transaction. Having acted for GBN Services for over a decade, LB Group and their Corporate Finance team headed by Stuart Sheldrick were pleased to be involved in the sale of GBN Services.

Stuart Sheldrick said: “It was great to be part of the team working closely with the sellers Moralis Group spearheaded by Soliman Motala, and the team at Tees Law consisting of Lucy Folley and Baljeet Kaur, to ensure a successful execution of the sale to enable Moralis Group to develop their strategic plan.”

White & Case LLP and Eight Advisory acted for Sortera on the multi-million-pound deal.

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