Witham based independent freight firm Simarco has taken a further step towards it’s expansion goal by acquiring Midlands based IFB – bringing the combined turnover to £35 million.
David Scrivener and his Corporate Finance team were instructed to act on behalf of Simarco and took on lead advisory and due diligence roles. Having put the offer together, the Ensors team worked closely with Managing Director Simon Reed and the Board to ensure a smooth completion. Working as a team with Simarco they then helped drive the deal forwards to ensure that the necessary momentum was maintained.
Simon Reed commented that, “this deal allows two established, successful companies with a similar approach to business to enhance each other’s strengths and, by coming together, fully realise their combined potential.” He continued, “Simarco have a greater presence in the south of England, IFB across the Midlands and the North. Together, we will deliver a more complete service for our clients.”