Teamwork reaps some real rewards

Mike Russell from Evolution and John Walters from Tilly Bailey & Irvine Solicitors with Doug Bedford of Tesserrae Holdings

Mike Russell from Evolution and John Walters from Tilly Bailey & Irvine Solicitors with Doug Bedford of Tesserrae Holdings

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TWO Hartlepool firms have come together to help a holdings group get off to a flying start in business.

Tilly Bailey & Irvine Solicitors joined forces with their Wynyard Park neighbours Evolution to give a helping hand to a new company called Tesserrae Holdings.

The Tees Valley companies were called in to help Tesserrae complete its first acquisition.

TBI’s corporate law specialist John Walters was called in to help complete the acquisition of a company called Cambmac Limited, a precision engineering firm based in Cambridgeshire. He worked alongside Andrew Fotheringham who is from Evolution, which is a business and tax advisors,

Andrew’s job was to provide the expertise on corporate finance, funding and accountancy.

Mr Walters said: “Tesserrae Holdings needed a legal team to work practically and efficiently alongside its directors and the company’s accountants.”

But the link-up has not ended there and more good news could follow soon.

Mr Walters said the law firm was continuing to work with Tesserrae Holdings which is looking to make further acquisitions and increase its strength.

Doug Bedford and Alan Dutton launched the company - whose full name is Tesserrae Holdings (2013) Ltd - to develop a specialist group of engineering businesses.

The directors plan to acquire at least two more firms in the short term but their ultimate is to build a group which has a turnover in excess of £40m.

Mr Bedford added: “In the last few months, we have built up great relationships with both teams, and we have been impressed by how quickly they have been able to react and deliver support exactly when we needed it.”

Tilly Bailey & Irvine has offices in Wynyard Park, Hartlepool, Stockton and Barnard Castle.