Law firm Shoosmiths has advised private equity firm 4D Capital Partners on the carve out of Hepworth Clay from Wavin Limited, the UK subsidiary of Orbia Building & Infrastructure.
Hepworth Clay is the only large-scale manufacturer in the UK of vitrified clay pipes and associated fittings used for drainage purposes. It manufactures from sites at Hazlehead (Yorkshire) and Forest Works (East Midlands) with 550,000 sq ft of manufacturing space sat on over 100 acres, using material from its own quarries holding significant clay reserves. As well as the core range of drainage solutions, it manufactures a range of terracotta products for the construction and ventilation of domestic flue and chimney systems.
The Shoosmiths deal team was led by corporate partner Dan Shilvock, supported by principal associate Leah Cairney, senior associate Kendra McCullough, and associate Sarah Palmer. Further banking support was provided by partner Natalie Barnes, associate Shaun Piesley and paralegal Ben Ollerenshaw.
Alex Silk, founder of 4D Capital, commented: “We are delighted to have invested in Hepworth Clay and very proud to become the custodians of this heritage brand. There is an excellent team in place with some exceptionally talented people who share our passion for high-quality manufacturing. We look forward to working with them to realise the full potential of Hepworth. We would also like to extend our gratitude to Shoosmiths for their invaluable support throughout.”
Dan Shilvock, corporate partner and client relationship partner for 4D Capital, added: "We are delighted to have advised 4D Capital on this complex carve out and investment – a transaction that represents a significant milestone for both parties involved. We look forward to seeing the development of Hepworth Clay under 4D’s stewardship and continuing the strong relationship we have with 4D.”
In 2024, Shoosmiths’ private equity team advised on 60 deals with an aggregate value of £5bn+ and an average deal value of £86m right across the mid-market. Corporate is one of Shoosmiths’ key strategic pillars, and across the division, its team has bolstered its market-leading credentials and reputation for excellence in mid-market M&A, advising on over 400 transactions each year.
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