We are delighted to have advised Cargo Services (UK) Limited on their sale to SIMEC Shipping UK Limited.
Established in 1995, Cargo Services (UK) Limited has grown through several acquisitions into a group that provides ‘one stop shop’ services for all types of general and bulk marine cargo.
Following a decision to retire from the business, the shareholders approached Grant Thornton to help them sell the company.
We were appointed to review the stakeholders’ strategic exit options and to explore opportunities with potential international buyers. This led to a full sales process, including an international buyer search which generated a high level of interest.
SIMEC Shipping, part of GFG Alliance which includes the Liberty House group of companies, was identified as the optimum strategic acquirer.
The sale allows Tony Davies, Chairman, to fully exit the business, whilst John Davey, Managing Director, will remain for a period to assist with the transition and integration of the business.
We ran a competitive, joined up, process to secure a fantastic result for the shareholders. We leveraged our deep sector knowledge and international contacts to identify, and deliver, a transaction with a strategic international buyer.
"The team at Grant Thornton were simply excellent. Their extensive transactional experience, international network and tenacity really shone through. They were pragmatic and highly supportive and took the time upfront to really understand our business. They went above and beyond to provide the advice and support needed to drive this deal forward. I would recommend them without hesitation."Tony Davies Chairman, Cargo Services (UK) Limited