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Cripps advise Richemon SAS on its cross-border acquisition of BREC (Holdings) Limited

30 Mar 2023

Cripps’ corporate team has advised Richemon SAS on its acquisition of BREC (Holdings) Limited.

Richemon is a subsidiary company of NetCo Group, which is backed by the world-leading private equity firm Ardian. Headquartered in Bordeaux, France and founded in 1902 by the Perriez family, NetCo is a European leader in the maintenance of conveyor systems. With over 120 years of experience, the group serves over 25,000 customers throughout Europe and, in addition to maintenance, the group also designs, assembles and distributes custom-made industrial conveyor systems.

BREC (Holdings) Limited, based in Preston, is one of the UK’s leading providers of conveyor belt services. Serving major businesses across the UK and internationally, the company provides conveyor belts, on-site vulcanising and related services.

The Cripps team advising on the acquisition was led by Olivier Morel and Tom Newlyn, and also included Helen Garner, Emma Storkey, Peter Mayhew (corporate), Claire Durkin, Megan Pitt (real estate), Camilla Beamish and Emily Byrom (employment). The team worked closely alongside Mazars acting as accountants.

Commenting on the support provided by Cripps, Samuel Perriez, CEO of NetCo, said: “For this key acquisition in the UK market, we turned to Cripps as one of the key UK law firms for Franco-British deals. The team worked tirelessly to deliver a great outcome and we are delighted with our new UK operation.”

To learn more about how Cripps can support your business on its growth journey, please contact a member of the corporate team.