Based in Sittingbourne, Doré Metal Services is a distributor of non-ferrous metals which turned over more than £13 million last year.
The business has acquired Southampton’s MG Metals, complementing its existing operations in Kent, Bristol and Hertfordshire with a greater presence in the South of England and Wales.
Kent law firm Thomson Snell & Passmore advised Doré Metals on the deal with a team led by Joanne Gallagher, head of corporate M&A.
She was supported by Faye Cook, Daniel Gorringe, Harry Roffey and Rachel Macmillan.
Nitzan Cohen also advised on corporate tax, Freya Vale on commercial, Ben Stepney and Ashley Matthews on employment and Joanne Wright and Katarina Bloodworth on real estate.
The transaction involved complex regulatory issues as well as banking and finance workstreams, and was closed ahead of the autumn budget.
David Hunter, managing director of Doré Metals, said: “I’m delighted that we’ve successfully reached an agreement with the shareholders of MG Metals for a total buyout.
“Having established a longstanding and loyal relationship with MG Metals over the years, it was clear that our core business values were already aligned.
“This made the decision to join forces a straightforward one when the opportunity presented itself.
“I’m incredibly excited about the potential this acquisition brings and the opportunity to build on MG Metals’ current success. I’m wholly confident that we’ll thrive together.
“I’d like to thank Joanne and the team at Thomson Snell & Passmore for getting this over the line before the deadline both parties had set.
“They’ve offered tremendous advice and support throughout the process.
Joanne added: “This was a really rewarding transaction to have been part of, helping Doré Metal Services bring its ambitious growth plans to fruition.
“We wish David and the rest of the team all the best as the organisation goes forward with a strengthened market offering.”
Kreston Reeves advised Doré Metals on corporate finance and accountancy matters, led by Craig Dallender.
