Clearwater International advised shareholders on the sale of a transport solutions business via a £50 million buy-in management buy-out backed by RJD Partners.
TransLinc is a leading supplier of specialist transport solutions with a fleet of over 3,000 vehicles, a staff of almost 500 and a turnover of more than £30 million. Clearwater International originally advised the shareholders on TransLinc’s management buy-out in 1998 from local authority ownership in a deal originated by Clearwater International. A strong relationship since meant Clearwater International were first choice to be appointed to handle the sale.
The sale process started with a strategic review to assess the appropriate exit strategy for the non-management shareholders and resulted in a fully controlled auction to a carefully chosen shortlist of trade and private equity buyers culminating in the successful buy-out by RJD Partners. The deal gives RJD Partners a majority stake in the business, providing an exit for all the non-management shareholders, the retirement of the managing director and a partial equity release for the finance director and sales and marketing director, both of whom will remain with the business.
Clearwater International delivered a price 40 per cent above client expectations and advise to carry our vendor due diligence made sure a tight process was maintained with minimal disruption to the business.