BREC bought out by Bordeaux firm

Preston-based BREC (Holdings) Ltd, one of the UK’s leading providers of conveyor belt services, has been acquired by Richemon Group International of Bordeaux, France.

BREC, which has 40 employees, also has a North East site in Jarrow. The company provides conveyor belts, on-site vulcanising and related services to major businesses across the UK and internationally. Clients include Aggregate Industries, Hanson Cement, Tarmac, Tata Chemicals and Pilkington Glass.

The deal facilitates the exit of BREC’s founding shareholder and director Geoff Toft who started the company in 1975. BREC’s existing management team, led by managing director Steve Peruzza, will continue to oversee operations.

Geoff Toft said: “While the ownership of the company has changed, our many customers can rest assured they will get the same quality products and service they have come to expect from BREC and our excellent management team will continue to drive the business forward.”

The corporate and commercial team at law firm Harrison Drury, led by Jack Stephenson and Kerry Southworth, advised BREC on the transaction. The firm’s commercial property, employment and regulatory teams also advised on the deal.

Harrison Drury’s deal team included Jack Stephenson and Kerry Southworth (corporate and commercial); Danielle Leeming, Rhian Sale and Ben Foulds (commercial property); Sarah Astley (employment law); and David Edwards (regulatory).

Jack Stephenson, a senior associate solicitor in the corporate and commercial team at Harrison Drury, said: “Geoff has spent almost 50 years building BREC into the successful business it is today. As a longstanding client of the firm, we’re pleased to have supported him in securing a bright future for the company’s management team, employees and customers under new ownership.”

Azets provided advice to Geoff Toft on the financial aspects of the transaction. Richemon Group International, which is controlled by directors James and Samuel Perriez, was advised by Tom Newlyn from London-based law firm Cripps.