18th October 2017
Walker Morris has advised Total Capital Partners on its funding of the MBO of Walkers Transport, a leading UK based transport and logistics specialist. The deal values the business at c £20 million.
Utilising its single source funding model, Total Capital is providing £13.5 million of equity and debt, and will take a 60% equity stake in Walkers.
Based in the North of England with logistics centres in Leeds, Birstall and Manchester, Walkers Transport carries ambient, non-hazardous, palletised goods for a broad range of manufacturers, retailers, wholesalers and distributors. The Company comprises George Walker Transport Limited, George Walker Transport Manchester Limited and Northern Hub Limited.
With Total Capital’s support, the new management team plans to continue to grow and develop its competitive service offering in the M62 corridor. In addition, it is expected that there may be opportunities to acquire further businesses where existing owner-managers are looking to retire.
Specialist corporate lawyers at Walker Morris John Hamer, Partner provided legal advice to Total Capital Partners.
John Hamer commented:
“We have a strong track record in the private equity sector and in particular we have advised on a number of equity backed MBOs recently. Walkers is a fast growing business with further potential to expand. The investment from Total Capital Partners is a great fit and should help to accelerate their expansions plans.”
Natalie Eastham, Managing Partner of Total Capital Partners, added:
“We are delighted to be able to again demonstrate the Total Capital model at work, this time for a fast-growing logistics business in the North of England. It testifies to the appeal that our flexible combined equity and debt funding approach has for management teams, providing an attractive alternative to the traditional leveraged private equity model for businesses and transactions requiring funding of £10-30 million.”
Walker Morris recently advised on the equity backed MBO of Smoothwall, Pelsis Holding UK Limited and Karro Food Group.