The Price Bailey Strategic Corporate Finance team recently assisted with a partial acquisition of Suretrans Limited, a haulage and fleet solutions provider, by property investment specialists Lousada PLC.
Suretrans are national suppliers of LGV/HGV vehicles and drivers, operating from their East Anglian head office. Founded in 1997 by Nick Vinyard with one vehicle, the Company has grown steadily and organically during the last 21 years to the 35 strong fleet of vehicles it maintains and operates today.
Price Bailey’s Strategic Corporate Finance team assisted Suretrans with sale mandate services during the sale of Nick Vinyard’s shares to Lousada PLC. Price Bailey also worked alongside legal advisers Shakespeare Martineau and Birketts throughout the remaining stages of the transaction.
Stephen Reed, Partner at Price Bailey said: “We are pleased that we were able to secure the deal quickly with Lousada, to the satisfaction of all parties. At the outset we identified and approached a number of suitable trade and financial buyers and during ongoing discussions, introductions were made to property investment specialists Lousada.”
Stephen continued: “Within a short timeframe, we were able to assist the parties to negotiate and agree a deal allowing Nick Vinyard to exit the company on completion with Lee Pyke, fellow director and shareholder of Suretrans, remaining within the business. We wish both parties all the best in their future endeavours.”
Nick Vinyard, former shareholder and Managing Director at Suretrans said: “Price Bailey provided an excellent service throughout the transaction. The team were quick to respond, driving the deal forward and providing professional advice when it mattered. Most importantly, their advice helped us to arrive at a suitable deal much sooner than expected.”