How Haulage Group is getting bigger and greener

This weekend’s LDP Business radio show on CityTalk105.9 features an interview with Stobart Group chief executive Andrew Tinkler. The head of the iconic North West haulage group tells listeners how the firm, which now operates 1,250 lorries, is adapting to growing environmental concerns. Mr Tinkler describes how his firm plans to transfer some freight services … Continued

A hard day’s night finalising a deal

My son rings with a prank call A partner in the corporate department of Halliwells Liverpool office, Jonathan Brown specialises in mergers and acquisitions. This was his working day on Tuesday, August 14, when the Eddie Stobart deal was agreed. 6.30am: I woke up in the Hilton Hotel, Manchester, as I am acting for the … Continued

Eddie Stobart hauled onto stock market

A pair of Preston professional firms have played a key role in the deal which has taken haulage giants Eddie Stobart on to the London Stock Exchange. Solicitors Brabners Chaffe Street and corporate financiers Dow Schofield Watts were both involved in the reverse flotation, which saw the Carlisle-based group taken over in a £138m deal. … Continued

Stobart trucks along with reverse takeover

Stobart trucks along with the reverse takeover of Westbury Property Eddie Stobart, the iconic road haulage company, is to list on the London Stock Exchange after reversing into Westbury Property Fund. The company’s practice of giving its 900 trucks their unique female name has made it a household name, even spawning an Eddie Stobart fan … Continued

Stobart on the move

The UK’s best known road haulage firm, Eddie Stobart, was today sold for £138m to create a merged transport and logistics company headquartered at Appleton Thorn near Warrington. The company, famous for its 900-strong fleet of green and red trucks, is being bought by former property group Westbury, which owns the port at Runcorn and … Continued

Kitson group sold for £14m

Silverdell, a UK supplier of asbestos contracting and consultancy services, announced the acquisition of Kitsons, an industrial asbestos contracting business, for £14m. The deal will be financed by a £4m existing facility with Barclays Bank and £10m from a placing of shares at 150p. Kitsons provides asbestos removal, insulation and scaffolding services to the nuclear, … Continued

Taygroup buyout deal

The parent company of Wigan-based haulier Taylored Lines and warehouse and distribution business Beeline has undergone a management buyout, in a deal valued at £8.75m. Taygroup , a £22m-turnover enterprise with 155 staff nationwide, has been sold by chairman Nicholas Taylor and finance director Paul Craven. The buyout was led by sales boss Jon Wright, … Continued

Founder of Haulage

Southport businessman Nick Taylor has sold the haulage business he founded 14 years ago to his management team in an £8.75m deal.Mr Taylor, chairman of Taygroup, and Paul Craven, the company’s finance director, have sold their shareholdings to an MBO team led by sales director Jon Wright and operations director Lloyd Dennaford. Mr Craven will … Continued

Club to pay £21m charges for debt

The new American owners of Liverpool FC last night refused to comment on claims that the club might shoulder the burden of paying multi-million pound interest charges on the debt they have raised to fund their acquisition. While Tom Hicks and George Gillett have personally underwritten the £300m they have raised from Royal Bank of … Continued

Betfair complete Timeform deal

Betfair have acquired Portway Press Limited, which trades as Timeform. Timeform is a world-renowned brand publishing horseracing ratings, form guides and analysis. The company, founded by Phil Bull in 1948, is an essential source of reference for racing enthusiasts and is used daily by the sport’s professionals and punters. Operating from its Halifax base, Timeform … Continued

Betfair set to buy Timeform for £15m

By J A McGrath Betfair, the betting industry’s most successful exchange, are to buy Timeform in an estimated £15m deal expected to be completed next week. The move to acquire Halifax-based Portway Press Ltd, which publishes Timeform and other related racing publications, by the company that has revolutionised betting in this country and beyond in … Continued

Towergate acquires Paymentshield

Towergate has completed its purchase of Paymentshield. Under the terms of the deal, Paymentshield will remain an independent business. It now becomes a sister company of Towergate Partnership, Europe’s largest independently owned insurance intermediary. This follows the management buy-in in 2004 led by Paymentshield’s chief executive offficer, Stuart Pender. The deal represents a successful exit … Continued

A tale of two city buy-outs

The contrasting fortunes of two recently concluded local management buy-outs (MBOs) couldn’t be greater. Around 100 senior managers at Tilney Investment Management, based in the Royal Liver Building, shared a reported £350m windfall with private equity backer Bridgepoint Capital two weeks ago when Germany’s Deutsche Bank acquired their firm. Tilney’s managers appear to have done … Continued

Directors takeover financial advisers

A group of directors has taken control of a Preston financial advice firm, having completed a management buy-out. Gillian Bardin, Robert Cholmondeley, Glynn Bartley and Phil Rogers have agreed a deal with founders Nigel Taylor and John Patterson to take the majority 55%share in Taylor Patterson financial advisors. The deal sees Gillian Bardin take over … Continued

Parasol effect

A Warrington recruitment specialist honoured for its rapid growth has changed hands in a £24m management buyout. Parasol employs an 80-strong customer support team at its Centre Court offices dealing with more than 15,000 self-employed professionals and 2,500 recruitment agencies covering the IT, engineering, medical and education sectors. Founding partner Rob Crossland, who remains as … Continued

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