Trio digs deep in quarry takeover
Three local businessmen - Nigel Baxter, Richard Tuxford and Peter Stephens - have taken over Yellowstone Quarry, the last remaining producer of local Bulwell Stone. The new company will be called Nottingham Bulwell Stone.
The commercial property team at law firm Fraser Brown helped secure the takeover, which required the formation of the new company before the quarry could be purchased.
Corporate law partner Gavin White, who advised on the deal, said: “This is an important deal for the region as it has secured the future of the last remaining producer of local Nottingham stone. Working with the commercial property team we pulled out all the stops to get this deal to completion quickly and are delighted that under new ownership the quarry can now continue to supply this unique product.”
Nigel Baxter said that the quarry represented “a good business opportunity”.
He said: “We could all see the potential in the product which there is a large market for in the area and were keen to realise its potential and protect this valuable local resource. We were working to tight deadlines to get the deal to completion and the team at Fraser Brown were seamless in their approach to what was a unique proposition.”
