Squire Patton Boggs and La Salle Corporate have advised on the sale of Warrington-based Mark Thompson Transport Limited to UK haulage and warehouse company Kinaxia Logistics.
Established in 1989, Mark Thompson Transport is focused on the through-the-night logistics and supply-chain sector. The company has seen substantial growth in recent years built on its high levels of customer focus, reliable cost effective service and use of state-of-the-art technology. It has a strong customer base including long-standing relationships with Hermes, DX, TNT and Victoria Plum.
Kinaxia Logistics was formed in 2012 with the acquisition of Bay Freight Limited. With the addition of Mark Thompson Transport, the company’s 8th acquisition, it now employs 1,050 staff with an annual turnover of £95 million.
This is the sixth deal completed by Squire Patton Boggs in Leeds this month, which also included advising Lloyds Development Capital on the sale of a majority stake in business travel management company CTI; advising Essential Fleet Services and private equity firm Endless on the acquisition of Go Plant; and advising veterinary science business Animalcare on the £30 million fundraising and acquisition of Belgium-headquartered Ecuphar NV by way of reverse takeover.
Advising Mark Thompson Transport on the deal was Leeds Corporate partner Richard Hunt, assisted by associate Maxine Burton. Corporate finance advice was provided by Matt Dillon from La Salle Corporate.
Mr. Hunt commented: “We are pleased to have advised Mark Thompson Transport on a transformational deal that sees the company become part of Kinaxia Logistics, a rapidly expanding group with exciting prospects for the future. This deal is one of a number that we have completed in the logistics sector in recent years where there has been some consolidation, including the acquisition of Palletways Group by Imperial Mobility.”
Mr. Dillon commented: “I am delighted to have helped Mark Thompson complete the sale of his company. Starting 30 years ago with a single van to a company with over 180 trucks, with no other shareholders supporting him, is a testament to Mark. A superb achievement. It has been a pleasure working with Mark and, after the journey we have been on, I would class him as a friend rather than a client. I would like to thank my sales team at La Salle and Squire Patton Boggs for their assistance, it was a team effort”.
The legal adviser to Kinaxia Logistics was Gateley Plc.