Reliance Worldwide Corporation’s £687 million acquisition of engineering company John Guest Holdings

Eversheds Sutherland has advised the shareholders of John Guest Holdings – a leading British engineering company with a global reach – on its £687 million sale to Reliance Worldwide Corporation (RWC).

John Guest is a British engineering company and a global leader in plastic push to connect technology. The family owned company is one of Europe’s biggest suppliers of plastic fittings for the engineering and plumbing sector.

RWC is a leading global manufacturer and supplier of premium-branded engineered water delivery, control and optimisation products and solutions for residential and commercial plumbing applications and is the premier manufacturer in the world of brass push-to-connect (“PTC”) plumbing fittings.

The Eversheds Sutherland core team was led by M&A Partner Chris Halliday (picture) and included Wyn Jones, Legal Director; Lee Harris, Senior Associate; Hannah Kaye, Associate and Richard Hughes, trainee solicitor. Wider support was provided by Eversheds Sutherlands’ Partners Elizabeth Graves (employment); Ben Jones (tax) and Iftkhar Ahmed (real estate); Legal Director Jane Southworth (environmental); Senior Associates Brendan Moran (Tax) and Richard Buxton (environmental) and Associate Rachel Stubbs (employment).

Herbert Smith Freehills has advised Reliance Worldwide Corporation Limited on the deal with a team led by partner John Taylor, assisted by consultant Nick Wormald and senior associate Andy Young.

Melbourne partner Michael Ziegelaar, senior associate Cecilia Mehl and solicitor Andrew Earle advised on the A$1.10 billion accelerated entitlement offer announced to the ASX on 24 May 2018, while partner Martin MacDonald and solicitor Isobel Rechter advised on a new A$750 million syndicated loan facility.

Involved fees earner: John Taylor – Herbert Smith Freehills; Nick Wormald – Herbert Smith Freehills; Andy Young – Herbert Smith Freehills; Martin MacDonald – Herbert Smith Freehills; Isobel Rechter – Herbert Smith Freehills; Chris Halliday – Eversheds Sutherland; Wyn Jones – Eversheds Sutherland; Lee Harris – Eversheds Sutherland; Hannah Kaye – Eversheds Sutherland; Richard Hughes – Eversheds Sutherland; Elizabeth Graves – Eversheds Sutherland; Rachel Stubbs – Eversheds Sutherland; Ben Jones – Eversheds Sutherland; Brendan Moran – Eversheds Sutherland; Iftkhar Ahmed – Eversheds Sutherland; Jane Southworth – Eversheds Sutherland; Richard Buxton – Eversheds Sutherland;

Law Firms: Herbert Smith Freehills; Eversheds Sutherland;

Clients: John Guest Holdings; Reliance Worldwide Corporation Limited (RWC);