Debbie King, partner in the firm’s Corporate and Commercial department, has recently acted in the sale of two companies. One, a management buyout and the other a company acquisition.
JDS Trucks limited, a leading Renault distributor with sites in Manchester, Leeds and Blackburn, has been bought by its management team. Directors Mark Griffiths, Peter Glover and Richard Davies have bought the firm from former owner Peter Harper.
Richard Davies said of the buyout,
“This is very much a team effort and we are all very excited by the acquisition in very difficult times for the industry as a whole. Between the three of us we have over 70 years of commercial vehicle experience and we can honestly say that trucks are in our blood.”
Farleys first acted for JDS Trucks over 10 years ago, originally for Peter Harper, and has maintained a relationship ever since. Speaking of the buyout, Debbie said,
“Having acted for the founder of JDS Trucks Limited for a number of years, we were more than pleased to act when the business was being sold onto the management team. We know that the business will continue to flourish under their leadership and wish them every success for the future.”
The second deal involved another long standing client of Farleys, Wesco Limited, a leading supplier of licensed gifts, clocks and watches, who have been acquired by Zeon Limited, a wholly owned subsidiary of the Herald Group and one of the UK’s largest watch companies.
Headquartered in Cheshire, Wesco is a private manufacturing and distribution company with a diverse portfolio of over 20 licensed international brands including; Star Wars, Doctor Who, Top Gear, Transformers, Bob the Builder, The Simpsons and Disney.
Wesco has built a strong reputation as a leading supplier in the licensed character gift business which contributed to the company winning a number of industry accolades including two ‘Homeys’ in recognition of Wesco being the world’s longest-running Simpsons licensee. The company is also celebrated for its strengths in both design and product development.
Commenting on the acquisition, Robert Hughes, founder of Wesco, said
“Having been a long-time admirer of Zeon and its Directors, I am genuinely delighted about the sale. We have enjoyed an excellent relationship for more than 20 years, and the prospects of what we can achieve as a combined entity are truly mouth-watering. Selling a business you founded is not a step taken easily; I am confident that Wesco will be in very good hands going forward.”
“It was a difficult decision for Robert and Kathryn to sell the business which they had built up from nothing, but we are confident that they have found the right ‘fit’ with Zeon and that the business will continue to flourish under its new owners.”
If you require help or advice in the sale or purchase of your business then contact an expert at Farleys Solicitors now on 0845 050 1958, or you can e-mail us.
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