By: 10 December 2018
Wilkin Chapman advises Peacock and Binnington on acquisition

One of the most famous businesses within Northern Lincolnshire’s agricultural machinery sector has expanded its operations into East Yorkshire, with the support of corporate experts from Wilkin Chapman Solicitors.

Wilkin Chapman, with its headquarters in Grimsby’s Cartergate, provided the legal expertise that enabled Brigg-based Peacock and Binnington to acquire Northfield Agricultural Services.

Acting for Peacock and Binnington, Wilkin Chapman partner within the corporate and commercial team, Ian Sherburn (pictured), said: “Peacock and Binnington has a proud history and is a well-known name across the region and beyond. We are therefore delighted to have played our part in this acquisition and we look forward to watching the enlarged business develop in the years ahead.”

“This is a perfect example of how businesses across East Yorkshire and Northern Lincolnshire can work together to reach an extremely successful outcome for all,” added Sherburn, who was assisted in the work by corporate colleague Tom Rook, with the firm’s commercial property team also contributing.

For Peacock and Binnington, the successful acquisition of Northfield is an opportunity to further develop its 125-year-old business that was founded in East Yorkshire before crossing over the Humber and establishing its base at The Old Foundry, in Brigg.

Now employing 135 people across the group, it operates across Lincolnshire and Yorkshire with further outlets in Corringham, Halsham, Louth and Selby. With an expected turnover for the current year, including the new acquisition, of more than £60 million, managing director Graham Main is looking forward to the future.

He said: “In engaging Wilkin Chapman as a legal team, it was important that we had confidence in their ability, but also that the time was taken to understand the business, the sector and our ambitions for the future. This was our first experience of an acquisition and as such it was important that we instructed the right partner to lead us through the process professionally but guiding us in a clear and straightforward way. We thank the team at Wilkin Chapman for their support in all these areas.”

Main added: “This move has expanded our geographical reach considerably and takes us back in to the East Yorkshire region where our company was founded 125 years ago.”