Pannone Corporate has advised on the cross-border sale of a controlling stake in North West company, Walker Sime.
The Manchester firm acted as legal adviser to the shareholders of Walker Sime, of which shares were acquired by Oregon-based Otak, part of the HanmiGlobal Group. The US company has taken a majority stake in Walker Sime, as part of the deal.
The Pannone team was led by Tim Hamilton (corporate Partner), Miranda Foy and Behzad Borang.
Walker Sime is a multi-disciplinary construction consultancy, which specialises in quantity surveying and project management. It has worked on a number of high-profile projects, including Network Space’s 200,000 sq ft industrial scheme in Altrincham and the £54 million Glass Futures in St Helens.
Tim Hamilton said: “We have worked with Walker Sime for a number of years and have followed the company’s impressive expansion, establishing itself as a leading player in the North West construction market.
“The sale to Otak is a perfect culmination of years of hard work and dedication by the team and a significant milestone in its ongoing growth journey. We were delighted to have acted for the company on this transaction and look forward to watching the next phase of its development, in particular in advanced manufacturing and the low carbon economy.”
The Walker Sime deal comes three years after Otak, a design and project management firm, acquired a majority stake in London-based consultancy K2. As part of the deal, Walker Sime and K2 will merge operations under the Walker Sime name, creating a team of around 130 with a national focus.
The financial advisors to the shareholders of Walker Sime were James Jennings and Chris Bentley of the Strategy Exchange.