Capital Law has advised Mr Owen and Mr Tee, who formed Starc in 2009, on the sale of 75% of the company’s shares to Lowery Group, a business which has worked closely with Starc for a number of years on key projects across the UK rail sector.
Starc is recognised as one of Wales’ fastest growing firms, placing 5th in 2015 and 8th in 2016 on the Wales Fast Growth 50 list. Between 2013 and 2015, Starc’s revenues grew by 352.7% to reach 3.3m. This growth and the subsequent Principal Contractors Licence they obtained has allowed them to work on large projects with Network Rail, most notably being involved in the Crossrail London project.
The founders will still have an ongoing minority shareholding and will still manage the company’s next growth phase.
Philip Owen, Managing Director of Starc said: “As founders, Julian and I were very impressed with Capital Law’s handling of the sale. Tom Kelleher was calm and professional throughout what ended up being lengthy, and at times, complex process. He brought an invaluable depth of knowledge and commercial understanding of our business to the table, and led a great team of lawyers who all helped us get the deal over the line.”
Tom Kelleher from Capital Law said: “I was delighted to advise Phillip and Julian on the sale. Their work to define Starc as a market leader can be an example to all Welsh business owners.”
For more information, please contact Tom Kelleher.