Taylors has advised on the sale of its Blackburn-based client, Gilbraith (TS) Limited to Scottish firm, Pollock (Scotrans) Limited.
Founded nearly 100 years ago, Gilbraith has a turnover of £5m, and employs 50 staff from its six acre Blackburn site. It offers a wide range of logistics solutions and, in addition to its fleet vehicles, has the capability to handle traditional rail freight.
The company, a longstanding client of Taylors Solicitors, was advised by Stephen Jarman & Matthew Catterall of Taylors' Corporate team and Paul Stringer & Robin Prestage from the Corporate Finance team at Cowgill Holloway.
Henry Gilbraith of Gilbraith said: "This deal is great news for the business, our customers and our employees. Pollock shares our vision, passion and enthusiasm and will continue to develop the business. The acquisition means we can become a key player throughout the UK."
Stephen Jarman, Partner at Taylors commented: "Gilbraith has been a valued client of Taylors for almost ten years. We have been aware of the management team's exit objectives for some considerable time, so it is particularly satisfying to assist the shareholders to achieve them. Gilbraith is a complementary fit to Pollock's Scottish operations and provides an opportunity for it to expand its UK reach and I have every confidence the combined businesses will be very successful into the future."
Commenting on the sale, Robin Prestage said: "We were introduced to Gilbraith by commercial law firm, Taylors, which has a long standing relationship with its client. We have worked together to crystallise the considerable value the company has built since 1920. The ability to leverage the knowledge of Gilbraith into the Pollock customer base and vice versa will undoubtedly bring value to all stakeholders. This transaction further reinforces our presence in the logistics sector in which we continue to be very active."
Haines Watts and Davidson Chalmers advised the buyer. The deal was funded by The Royal Bank of Scotland.