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Business Advisers Baker Tilly and leading law firm Ashfords LLP, has advised on the sale of Framptons Transport Services Ltd to Gregory Distribution (Holdings) Ltd.
Framptons Transport Services is based in Shepton Mallet in Somerset, has an annual turnover of around £17 million, employs 245 people and operates 60 vehicles.
The company specialises in the provision of transport services including contract distribution and UK and European pallet delivery.
Gregory Distribution, headquartered in North Tawton in Devon, offers a number of services including transport, recyclable waste services, palletised services, supply chain solutions, warehousing and the transport of milk and bulk liquids.
The acquisition further expands Gregory Distribution Ltd.’s activities in the West Country, and positions the company for continued future growth.
Baker Tilly’s M&A team were lead adviser to Framptons on the transaction and Ashfords LLP's Corporate team acted as legal advisers to the shareholders.
Ian Wherry, Corporate Finance Partner at Baker Tilly said: ‘We were delighted to play a part in this transaction, which brings together two important players in the transport and logistics sector. This transaction delivered real value for Framptons shareholders, whilst providing strong strategic future growth opportunities for Gregory Distribution.’
Ashfords LLP said: ‘We were delighted to represent the Framptons shareholders on the sale of Framptons to Gregory Distribution, which reflects the growth and success of both businesses and their ongoing commitment to the West Country transport and logistics sector. We wish the parties the best of luck for the future'.