CorpAcq, the South Manchester based Investment Group has got 2010 underway with the acquisition of The Carrylift Group, one of the largest privately owned materials handling companies in the UK.
As with previous CorpAcq acquisitions the senior management team at Carrylift, based in Skelmersdale with seven depots from Stoke to Glasgow, will all remain with the Company post transaction. The Carrylift Group has been established for 22 years and has a strong reputation for providing a total solutions approach to clients’ materials handling requirements.
The deal, which sees CorpAcq take a controlling interest in it’s seventh business, was structured and led by Lee Teste and Nick Cattell of TMG Corporate Finance alongside Gary Black, CorpAcq’s Group Legal Director.
Legal advice to the shareholders was provided by Cobbetts led by Partner, Ian Riggs.
A multi-million pound acquisition finance and ongoing working capital facility was provided by KBC Business Capital, the asset based lending division of Belgian Bank KBC Bank NV and the deal team was led by Mark Shackleton.
Geoff Robinson, CorpAcq’s Managing Director, joins the Board of The Carrylift Group and commented “the calibre of business and the quality of its management are what attracted us and Carrylift perfectly complements the other businesses owned by CorpAcq . We were also impressed with the way KBC Business Capital tackled the transaction with such a positive can do approach”.
John Routledge who remains as the Managing Director of The Carrylift Group said “We are delighted to have sold to CorpAcq plc. We felt comfortable with their philosophy and approach from the start and now the deal has been delivered we look forward to working alongside CorpAcq in furthering the growth and success of The Carrylift Group”.