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Philson Haulage (Southern) Ltd
Transaction: Company Sale
Sector: Services
Completed: February 2013
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. 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 selling their business.”
Meridian Director Michael Barcia said, “We worked with Phil to identify potential UK and European strategic acquirers. After going to market it 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.”
