Custom Freight Services MBO
Custom Freight Services Limited, a freight forward specialist based in Essex, has officially changed hands following the completion of a retirement sale between John Mellanby and Management Buy Out (MBO) led by Chris Allen.
As existing clients of Ensors, Custom Freight Services liaised with partner, David Fairbank to orchestrate the succession plan three years ago. This allowed both parties to produce a clear pathway to succession and deliver the desired consideration.
With the support from the Ensors Corporate Finance Team led by Simon Martin, a fair deal which satisfied all parties was co-ordinated and through regular meetings and communication, progress of the plan was assessed and considered throughout the buyout period.
Simon and his team offered their expert advice on completion mechanism, structuring, cash flow, vendor consents in deferred period.
After completing the deal, Chris Allen said “Ensors ensured this buy out transaction was smooth and efficient throughout the entire process. The team’s professionalism and expert knowledge supported the best interests of all parties at every stage. Communication was regular and effective and filled us with confidence that the best deal was being achieved.”