Rolling expansion for MacIntyre Hudson Client

When the management team of at Pinnacle International Freight Limited (“Pinnacle”) decided the time was right to expand, they called on MacIntyre Hudson Corporate Finance’s Rabby Persaud and Laurence Whitehead to help the effect a management buy-out and structure the deal they needed.

MacIntyre Hudson’s Corporate finance team project managed the deal including assisting with negotiations, introducing suitable solicitors and guiding the team through the legal documentation to get the deal that all parties wanted.

For this long standing client of Ian Betteridge at Leicester office, the Practice’s Marcel Grech-Marguerat was called upon to assist with obtaining tax clearances from the Inland Revenue. Audit partner Ian also provided the financial assistance work to ensure the deal completed successfully and retains the management team as a client.

The group specialises in the provision of international freight forwarding, transportation and logistics expertise for clients based both in the UK and worldwide. Pinnacle’s full freight forwarding product offering includes air and sea freight, web based pick/pack, stock control and warehousing.

In the UK, Pinnacle has another office in near Heathrow Airport in addition to its Leicestershire head office. The group also has a US subsidiary operating from Norfolk, Virginia and a Hong Kong office servicing its Far East operations.

The deal not only allowed the MBO team led by Paul & Nathan Burrell to buy out the existing owners but also helped with the relocation to a larger 33,000 sq ft site in Narborough, next door to the old site occupied by the company on the outskirts of the Leicester. Wheels in motion: L-R Rabby Persaud (MHCF); Paul Huston; Nathan Burrell; Paul Burrell; Colin Bannister; Laurence Whitehead (MHCF)

Rabby commented “The deal was timed to coincide with expansion planned by Pinnacle’s enlarged management team. Nathan and Paul will now join board members Colin Bannister (Chairman) and Paul Huston (Managing Director) to drive the business forward.”

Wheels in motion: L-R Rabby Persaud (MHCF); Paul Huston; Nathan Burrell; Paul Burrell; Colin Bannister; Laurence Whitehead (MHCF)

Laurence Whitehead added “At a time when the sector is going through a difficult phase it is encouraging to see businesses like Pinnacle bucking the trend by expanding significantly to cope with an increasing demand for its services.”

Robert Rowley and Kate Blank from solicitors Freethcartwright LLP provided legal advice to the management team.

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