9.4 C
Lancashire
Thursday, December 5, 2024

Lancashire-based MKT Logistics successfully acquired by UK-wide transport specialists

A Lancashire logistics firm has been successfully acquired by one of the largest privately-owned transport companies in the United Kingdom, Turners (Soham) Ltd (“Turners”), which operates from 32 sites across the UK.

MKT Logistics (“MKT”), which was advised by Lexington Corporate Finance, has been acquired by Turners as it continues to strengthen its geographical footprint across the UK.

MKT provides haulage and pallet distribution services throughout the UK, with a fleet of almost 90 trucks. It was set up in 1999 by managing director Matthew Kibble, moving to its current base in Nelson, near Burnley, nine years later. The firm subsequently bought out Kent-based Shakespeare Transport, and Coventry-headquartered FullForce Logistics.

Matthew Kibble, managing director of MKT, said “I have always wanted MKT to become part of something bigger. I have known Paul, the managing director, for 14 years and I know my business couldn’t have gone to a better home.

“Lexington Corporate Finance provided guidance and support throughout the whole transaction, providing clear and concise advice at every stage of the process. Tom and Pablo acted in the strictest confidence throughout and enabled me to concentrate on the day-to-day operations of the business. Thank you all for your hard work and making sure the transaction ran as smoothly as it did.”

Paul Day, managing director of Turners, said: “We only purchase well-run transport companies to the Turners group and MKT Logistics fit in to that category.”

Lexington Corporate Finance acted as the lead advisor and presented the opportunity to several potential international acquirers. Turners emerged as the standout strategic acquirer for the business and provides a home for the MKT business to thrive.

The Lexington Corporate Finance team, consisting of Tom Coombes, Pablo Shorney and Adam Jones, managed interactions with all potential acquirers, negotiated terms and managed the process through to a successful completion.

Tom Coombes, director at Lexington Corporate Finance, added: “Along with his wider team, Matthew has built an exceptional business with a strong reputation in the logistics sector and with his customers alike. There is an excellent strategic fit between the two companies and we look forward to seeing the combined business become greater together.

“This represents another successful transaction in logistics and distribution for Lexington, following on from the sale of AIM Logistics to Fowler Welch last year. We continue to develop our sector expertise which allows us to deliver exceptional results for our clients and leading advice in the space.”

Legal advice to the owners was provided by Capital Law, tax advice was provided by Parisi Tax and accounting support was provided by SB&P.

spot_imgspot_img

Latest

How Technology is Transforming Philanthropy

Technology has revolutionised nearly every aspect of modern life,...

MarketsCo.com Review Delves into Brokerage Services and Features

MarketsCo is a brokerage firm that offers a broad...

Lime Licensing & FSB Unite to Expand Small Business Growth

Lime Licensing Group, a trusted expert in franchise consultancy...

Burj Khalifa Illuminates with New RGBW Lighting Upgrade

Revolutionary lighting system unveiled for global icon First...
spot_img

Subscribe to our newsletter

Business Lancashire will use the information you provide on this form to be in touch with you and to provide updates and marketing.

Don't miss

Burj Khalifa Illuminates with New RGBW Lighting Upgrade

Revolutionary lighting system unveiled for global icon First...

Lime Licensing & FSB Unite to Expand Small Business Growth

Lime Licensing Group, a trusted expert in franchise consultancy...

How Technology is Transforming Philanthropy

Technology has revolutionised nearly every aspect of modern life,...

MarketsCo.com Review Delves into Brokerage Services and Features

MarketsCo is a brokerage firm that offers a broad...

More News

Central Radio acquires Morecambe local station

Central Radio has acquired Morecambe's online radio station 'Triple M Radio'. Triple M, based in the north Lancashire resort of Morecambe was launched in 2016...

handl Group in double acquisition of Paediatric Specialist Physiotherapy (PSP) and Osiris Health

After breaking into the top 2% of UK businesses and passing the £100m annual turnover mark for the first time, buy-and-hold investor handl Group...

Everfield, a European Software Investor, Acquires UK Work Order Management Software Provider Depotnet

Everfield, a growth-focused investor in B2B software businesses, has completed the acquisition of Depotnet, a prominent work order management software provider specialising in the...