Capital assists with multi-million pound sale of Cargo Services Ltd to SIMEC
SIMEC Shipping Co Limited, (SIMEC) part of GFG Alliance, has bought Cargo Services (UK) Limited (CSUK) and its subsidiaries.
Established in 1995, Newport based CSUK has a turnover of over £10 million, owns a private port, and is seen as a ‘one-stop-shop’ for maritime port and onward-distribution logistics. The group also provides storage facilities and warehousing in the UK and Ireland through Ryan Transport Limited.
To maintain the growth and development of CSUK, certain senior management will be retained.
Alys Carlton, corporate partner, supported by Angelina Drljaca-Chandler and Elizabeth Cotton, acted for the Sellers, John Davey, Malcom Newell, Tony Davies and Andrew South. Our corporate team negotiated the legal transaction and helped CSUK navigate the sale process.
Alys says: It has been an absolute pleasure helping the shareholders of CSUK implement their succession plans and smoothly hand over the business to SIMEC. We wish all of them the best of luck in the future.
Capital Law worked with Grant Thornton, who advised from a corporate finance perspective. Clyde & Co LLP acted for SIMEC.
John Davey, CEO, CSUK, said: We find ourselves at the beginning of an exciting new chapter at CSUK and look forward to working with the new owners at SIMEC. Capital’s professional approach, commitment and support has been immense throughout.
Tony Davies added: I’m proud of what we all achieved at CSUK over the years and I wish the team, employees and the business’ new owners, the very best for the future. I would also like to say a big thank you to the teams at Grant Thornton and Capital Law, which were always on hand to provide the advice and support we needed. They exhibited great tenacity, commerciality and ingenuity to drive this deal forward.
This deal was named Deal of the Month for September by Insider Media.