Case Study: Philson Haulage (Southern) Ltd

Deal size:
Undisclosed
Transaction:
Company Sales & Acquisitions
Sector:
Services
Deal completed:
February 2013
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About the deal

Meridian  advised the shareholders of Philson Haulage (Southern) Limited (“Philson”) on their sale to Gregory Distribution Limited (“GDL”).

Philson, based in Chichester, West Sussex, was founded in 1995 and specialises in the temperature controlled storage and distribution of refrigerated fresh produce both in the UK and Europe.

The business works with importers in the general food, fruit and vegetable sectors, and also provides a distribution network for one of the UK's leading supermarket chains. Its fleet consists of over 30 vehicles travelling over 5 million miles per year.

Gregory Distribution operates from 17 sites in the UK and has 450 trucks doing 40 million miles a year, 1,250 employees and an annualised turnover in excess of £100 million.

Phil Dickinson, Philson’s founder and majority shareholder said “Once my wife Sonia and I decided it was time to consider selling, we certainly did not expect the journey we have now been through. Joe and the Meridian team expertly guided us through each of the stages of the process from initial meetings with potential buyers, due diligence to the final legal completion. I would certainly recommend Meridian to anyone considering a selling their business.”

Meridian associate partner Joe Jeffers said “We worked with Phil to identify potential UK and European strategic acquirers. After going to market its became clear that given Philson’s geographic location and  specialisation – it was a great fit with GDL.

We needed to quickly understand Philson’s operational and pricing structures with key customers to ensure that the diligence process and on-going negotiations were undertaken with  minimal disruption to the day-to-day running of the business.”

£100m

Annualised turnover

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Meridian expertly guided us through each of the stages of the process from initial meetings with potential buyers, due diligence to the final legal completion.

Phil Dickinson , Philson Haulage (Southern) Ltd