Penningtons Manches Cooper advises Lucy Group on acquisition of TOFCO CPP Ltd
The corporate team at Penningtons Manches Cooper has advised Lucy Group on its acquisition of TOFCO CPP Ltd, a UK‑based manufacturer and supplier of electrical distribution and highway electrical products.
Established in 1973, TOFCO designs and manufactures a wide range of electrical distribution and highway electrical products, including street lighting cut‑outs, isolators, fuse units, distribution panels, feeder pillars and EV charging solutions. The business serves local authorities, utility providers, and infrastructure operators across the UK and export markets, including Europe, the Middle East, Asia, Australia and New Zealand.
This strategic acquisition is complementary to Lucy Group’s Lucy Zodion and Flashnet street lighting businesses, and strengthens the group’s position in the highway electrical sector. TOFCO’s established product portfolio, enlarged operational footprint, and experienced management team will support Lucy Group’s ongoing growth ambitions and international expansion.
The Penningtons Manches Cooper team advising Lucy Group was led by corporate partner Will Axtell, with support from senior associate Danielle Broadhead and managing associate Giordano Suergiu. The wider team included real estate senior associate Lauren Winch and partner Simon Knott, corporate tax senior associate Leonie Langley and partner Kathy Potter, commercial senior associate Nora Pook and partner Joanne Vengadesan, pensions senior associate Clare Coley and partner Alison Hills, employment senior associate Luke Shaw and associate Lucas Grinstead, and banking associate Andrew Choi and partner John Chater.
Madeline Laxton, executive director and company secretary at Lucy Group, said:
“We were pleased that Penningtons supported us with this transaction, working with our internal legal team. They demonstrated a clear understanding of both the commercial objectives and the legal complexities involved, delivering pragmatic and solutions oriented advice.”
Will Axtell, partner at Penningtons Manches Cooper, added:
“We are delighted to have advised Lucy Group on this strategic acquisition, which further strengthens its capabilities in the street lighting and highway electrical sectors. It has been a pleasure working with the Lucy Group team on another important transaction, and we wish them every success as they integrate TOFCO and continue to grow the business.”