CooperBurnett Advises ITM Monitoring Shareholders On Their Sale To SOCOTEC UK
The Corporate team at CooperBurnett was delighted to provide legal advice recently to Jon Scott in the sale of Calyx Investments Ltd – the holding company of ITM Monitoring – to SOCOTEC UK, a subsidiary of the SOCOTEC Group.
Based in Uckfield, East Sussex, ITM Monitoring is an internationally recognised geotechnical and structural monitoring firm. Its technicians and engineers have worked on the majority of key construction projects that have taken place in the UK over two decades, as well as numerous high profile international projects. These include providing instrumentation and monitoring for Crossrail C701, Europe’s largest civil engineering project; the Perth Metro; the Son La Dam in Vietnam; and numerous Network Rail routes across the UK.
With its headquarters in France and operations in 25 countries, SOCOTEC is a leading company in testing, inspection and certification with ambitious growth plans. Having acquired ESG last year, the company has been actively seeking quality acquisition targets and ITM Monitoring stood out, due to the strength of the work it has delivered and the way in which it works.
The CooperBurnett team was led by Partner and head of Corporate and Commercial Services, Victoria Sampson, who has acted for Jon and ITM Monitoring for many years. She was assisted by Partner Tom Lumsden and Associate Solicitors Katie Hilsdon and Tom Newlyn.
“I am thrilled that we achieved this result for Jon and his family,” says Victoria Sampson. “It was an absolute pleasure to work with him, as ever. We worked closely with the team throughout to ensure the transition was as smooth as possible. I wish the business every success moving forward.”
Jon Scott remains as a director of ITM Monitoring and shall continue as an invaluable part of the management team.
“This is a genuinely exciting opportunity and one which is a direct reflection of the high esteem in which the industry holds ITM Monitoring and its staff,” Jon says. “SOCOTEC and I anticipate that this acquisition will open doors for both companies, so that we can access larger projects, either for monitoring alone or as part of a broader scope of work.”
Jon adds: “Having been advised by Victoria and her team at CooperBurnett for a number of years now, I felt confident having them by my side throughout this transaction. Like all acquisitions, there was a lot of ground to cover to ensure its successful progress, but Victoria remained steadfast and supportive throughout, expertly guiding us through the issues which arose. The experience and knowledge in CooperBurnett’s Corporate team is second to none.”