Braintree logistics company proceeds with £12m buy-up of warehousing business
PUBLISHED: 17:20 26 July 2018 | UPDATED: 17:20 26 July 2018
Braintree-headquartered logistics company Xpediator has appointed Clarke Willmott to advise on their £12m buyout of the warehousing business Import Services (ISL).
The company, which is based at the port of Southampton, was snapped up by Xpediator in a £12m deal earlier this month.
Xpediator has also announced share placing to fund their acquisition. £9m of the sale will be paid on completion and £3m on the future results of ISL and the value of Xpediator shares on 29 May 2020.
Kelvin Balmont, partner and head of the corporate team in the Southampton office of Clarke Willmott, led on the deal with assistance from Rupert Dillow. Property support was provided by Joseph Campbell.
Mr Balmont said: “Import Services is a long-term client of ours, and we are delighted to see how their hard work over the years has made them such an attractive prospect.”