MBO values Manchester logistics firm at £20m
The deal has been aided by private equity firm Total Capital Partners, who will provide £13.5 million of funding in a blend of equity and debt in return for a 60 per cent stake in Walkers.
The firm carries “ambient, non-hazardous, pallet-borne goods” for a range of different firms and organisations, including manufacturers, retails and wholesalers in the North-East area.
Comprising George Walker Transport, George Walker Transport Manchester and Northern Hub, the firm was founded by owner Nigel Jenkinson, who has committed his future to the business as a non-executive director and consultant following the buyout.
The MBO will see ownership of Walkers transfer to a management team lead by CEO Richard Simpson, while Jenkinson will keep hold of a minority stake.
The company has enjoyed a period of sustained growth in recent years, with turnover up from £18 million in 2014 to £25 million in 2016.
The management team have confirmed that they are planning to develop Walkers’ service in the Manchester and Leeds area, with an intention to acquire “further businesses” later down the line.
The deal was led by Mark Buttler at Total Group, which has also overseen an MBO at Weird Fish, a lifestyle leisurewear clothing brand, in April.
Buttler said: “Walkers is fantastic business with a market leading reputation and strong potential for further growth.”
Simpson added: “We are excited about the future and we are looking forward to working with Total Capital as we enter our next exciting phase of growth.”
Find a business to buy here
Subscribe to the Business Sale Report
Latest Businesses for Sale
Digital printing specialists, commercial and retail stationers, lithographic printing and various ancilliary services. Freehold retail shop and long leased factory unit. Sale price includes all equipment and properties. NP £80k...
Three Victorian houses joined together to form a luxury 8,500 sq. ft. facility. Includes reception, two lounges, four dining rooms, 16 en-suite bedrooms, music room, two kitchens, conservatory, bar, sauna, hot tub and more...
With over £60k worth of trading, the company has a very reputable name within the tourist and leisure market. Excellent potential...
View More Businesses for Sale >>
Businesses for Sale
Do you want to gain access to the latest businesses for sale as well as all UK administrations, liquidations and all winding-up petitions?
Business Sale Report is your complete solution to finding great aquisition opportunities.
10 Biggest Buyer Mistakes
Fill in your details below to get our FREE guide