The Bristol offices of accountants Baker Tilly and law firm Ashfords have advised on the sale of Shepton Mallet-based haulage firm Framptons Transport Services to a larger rival.
Devon-based heavyweight Gregory Distribution Framptons Transport Services paid an undisclosed sum to acquire Framptons, which has an annual turnover of around £17m, employs 245 people and operates 60 vehicles.
Baker Tilly’s merger and acquisition team was lead adviser to Framptons while Ashfords’ corporate team acted as legal advisers to the shareholders.
Baker Tilly corporate finance partner Ian Wherry said: “We were delighted to play a part in this transaction, which brings together two important players in the transport and logistics sector.
“This transaction delivered real value for Framptons shareholders, whilst providing strong strategic future growth opportunities for Gregory Distribution.”
Ashfords corporate partner Stuart Mathews added that the deal reflected the growth and success of both businesses and their ongoing commitment to the West Country transport and logistics sector.
The acquisition, Devon-based Gregory Distribution’s fifth in two years, further expands its activities in the West Country. It operates from 22 sites stretching from Scotland to West Cornwall and has 550 trucks, 1,600 employees and an annual group turnover of £150m.
The acquisition further expands Gregory Distribution Ltd.’s activities in the West Country, and positions the company for continued future growth.
