Business law firm DWF has advised Mosaic Private Equity and RooGreen Ventures LLP on the investment in Woodall Nicholson Group, one of the UK's longest established coachbuilding businesses.

Mosaic Private Equity, RooGreen Ventures LLP and Enterprise Ventures have each made a significant investment in the business, which has a turnover of £24million and employs 180 people at factories in Westhoughton and Rochdale.

Woodall Nicholson, which incorporates Coleman Milne, Mellor Coachcraft and Mellor Vancraft manufactures and sells funeral vehicles, buses and specialist vehicles for the emergency services. Its history dates back to the 1820s when its major activity was building horse-drawn hansom cabs and carriages.

The deal brings with it a re-union of 'old friends', given that the principals and investors - Brian Davidson, Paul Newton, Mike Rogan, Jonathan Diggines and Warwick Ley all worked together on the very successful acquisition of Scarborough based Plaxton Coachbuilders in 2004.

As part of the deal, Geoff Hudson, who has been with the business for over 30 years and is currently Group Sales Director, becomes Managing Director, while his two colleagues and co-shareholders will retire from the business.

Paul Newton, who along with Mike Rogan led the deal on behalf of Mosaic Private Equity said of the investment: "We have been tracking this business for some time now and as soon as the opportunity opened up we contacted Brian, given our friendship and positive experience with him in the sector. We are delighted to have brought together an innovative funding model and a high calibre team of managers and investors to complete the deal. This speaks volumes for the quality of the Woodall Nicholson business and reinforces our mantra that it's not just the money, but the people that make the difference".

Paul and Mike added: "We are also pleased to have worked with Jonathan Robinson and the wider team at DWF again, as their pragmatic approach enabled us to ensure the transaction was brought to a swift and successful conclusion."

Brian Davidson of RooGreen Ventures will become Chairman of the group, while Paul Newton and Mike Rogan of Mosaic Private Equity and Warwick Ley of RooGreen Ventures will join the Board as Non-Executive Directors.

Jonathan Robinson, Partner in the corporate group at DWF, led the deal and commented: "We are delighted to have had the opportunity to work with Mosaic and Roogreen again and their investment will support Woodall Nicholson in its strategic goals, helping the company to build on the significant growth it has already achieved over the years."

Jonathan was supported by Vicky Ross, Senior Solicitor, and Lucy Shenton, Solicitor, in the corporate team.

http://www.dwf.co.uk/news/dwf-press/dwf-advise-mosaic-private-equity-an…