• Swindon & Wiltshire News
• Tuesday September 6 2022
• Author Name: Peter Davison

TLT advises on sale of specialist property services provider Veritas

Bristol-based law firm TLT has revealed its involvement in the sale of Wiltshire-based specialist property, security and maintenance provider Veritas Property Management to Orbis Protect.

TLT’s corporate team advised the owners and management of Veritas on its sale to Synova Capital-backed Orbis.

Veritas Property Management specialises in securing and maintaining vacant property on a national basis, including CCTV and alarms, site security and vacant property management.

Boasting 18 offices and employing over 400 people across the country Orbis Protect is a nationwide company and one of the largest vacant property management organisations in the UK.

The acquisition will bring both companies together to achieve their shared long-term strategic vision of growth by developing their service offering and substantially increasing resources.

The team at TLT provided legal advice on all aspects of the acquisition to the shareholders and the ongoing management team. The team was led by head of corporate Andrew Webber and supported by Henry Male, Irina Angliss and Philip Barratt.

James Gary, chief executive of Veritas said: “We’re extremely grateful to the corporate team at TLT for their expert guidance and transaction knowledge, which helped us through this significant milestone.

“The team was always available and went the extra mile to get this deal over the line.

“Their commitment to understanding our business, the deal dynamics and providing a solution in line with our organisational needs was impeccable and instrumental to the smooth completion of the transaction.”

Andrew said: “It’s been a pleasure to work with the Veritas owners and management as the company embarks on the next stage of its significant journey of growth and development.

“We worked hand-in-hand with the team and their advisers at Momentum to provide strategic advice on the deal terms and process and are proud to have supported them in the sale to Orbis Protect.

“This is a fantastic combination and we look forward to seeing what the combined group will achieve together”.

Momentum Corporate Finance acted as lead adviser to the shareholders of Veritas. Orbis was advised by Squire Patton Boggs (legal), PwC (financial and tax due diligence) and Deloitte (tax advisory).