Rix & Kay advises on sale of construction business to listed engineering company Nexus

Rix & Kay advises on sale of construction business to listed engineering company Nexus

Rix & Kay’s Corporate Team has advised on the sale of Coleman Construction & Utilities to AIM listed civil engineering group, Nexus Infrastructure plc.

Rix & Kay’s team, led by Kathryn Paisley, Head of Corporate, advised co-owners Barry Coleman and Cathy Coleman, who founded the business in 2000.

Based in East Sussex, Coleman Construction & Utilities undertakes civil engineering projects in the construction, utilities and rail sectors across the South East. The business provides services that are critical to the UK’s national infrastructure, driven by climate change, environment protection, shifts in societal needs, and improvements to energy security.

Since its formation, the business has consistently achieved revenue growth, becoming a leading UK construction group through its exemplary reputation for high quality builds and reliable service delivery.

Nexus’s acquisition will expand its market through diversification, providing future growth opportunities outside of the group’s current core sector of residential housebuilding, while Nexus will support Coleman Construction & Utilities in enhancing and expanding its operations.

Commenting on the sale, Kathryn Paisley said,

“Getting this deal over the line ahead of the government’s autumn statement was paramount. We worked tirelessly to ensure it happened whilst maintaining the highly professional and diligent approach on which our reputation is founded.  We’re really proud of all of our people who worked on this transaction. We worked together seamlessly throughout and are delighted to have delivered a tremendous outcome for our clients.”

Rix & Kay’s team also included Daniel Halls (Corporate), Richard Cripps (Commercial Property) and Elaine Abbs (Employment). The sellers were also advised by Innovation Capital (lead advisory) and MDJ Services (Accountants).

Rob Clare of Innovation Capital commented,

“Kathryn and her team were brilliant, diligent, professional, commercial and human. Without them, the deal may not have been the success it was.”

Charles Sweeney, Chief Executive of Nexus, commented,

“The acquisition of Coleman presents an exciting opportunity for Nexus, diversifying into other critical sectors of UK infrastructure, enhancing our service offerings and driving future growth. This move enables the Group to benefit from long-term opportunities that are less vulnerable to short-term economic fluctuations. Coleman’s established reputation and expertise in water, rail, highways and rivers & marine sectors further strengthens our portfolio and we look forward to welcoming the Coleman team to Nexus.”

Barry Coleman, founder and Managing Director of Coleman Construction & Utilities, commented,

“Coleman has grown significantly over the years to become a leading civil engineering and construction business. Throughout this journey, we have remained committed to the highest standards in health and safety, quality, and customer satisfaction and our success is a testament to our exceptional team. Now with the support of Nexus, we are poised to further develop our business, creating new opportunities that will benefit our customers and everyone at Coleman. We look forward to collaborating with Charles and the Nexus team as we embark on the next phase of our journey.”

Mills & Reeve (Legal) FRP (lead advisory) and Cooper Parry (Accountants) acted for the buyers.