Midlands entrepreneur Stephen Hayward has acquired a 海角视频-based international removals business in a multi-million pound deal structured by the Birmingham corporate finance team at Mazars.
Founded in 1917, E Pearson & Sons (Teesside) employs around 100 staff and has built a reputation as one of the 海角视频鈥檚 leading international service providers to the home moving market.
Pearson operates its international fleet from Middlesbrough where the business was founded and also runs a sales centre based in Sutton Coldfield.
Mr Hayward, previously headed Christian Salvesen鈥檚 largest business unit, and was MD of Palletline during its formative years.
More recently Mr Hayward has advised and supported businesses in the logistics sector with expansion in the 海角视频 and across Europe.
He said: 鈥淭his is a great business with terrific growth potential, based on delivering outstanding service to customers, and I am proud to be the new owner of a business moving towards its centenary year in 2017 with youthful vigour.鈥
The deal was originated by Mazars and its Midlands corporate finance team of Nick Johnson, partner, and Gurinder Sehmi, senior manager, structured the acquisition and finance.
Mr Johnson said: 鈥淲e became aware that the business was potentially for sale and introduced Stephen, a long standing contact of mine.
鈥淢azars provided comprehensive support to Stephen and the acquisition company.
鈥淭he deal required a huge amount of commitment and tenacity 鈥 from start to finish it took a shade over 12 months with many twists and turns.
鈥淧earsons has huge potential and we are very excited for Stephen and his new colleagues.鈥
Mazars delivered and structured the funding which was provided by Shawbrook Business Credit.
Paul Edmeades, Shawbrook鈥檚 business development director for the Midlands region, said: 鈥淪hawbrook were delighted to support Stephen in this acquisition by offering a flexible funding package consisting of asset based lending and cash flow facilities鈥.
鈥淏usiness Credit are supporting both SMEs and mid-market corporates and we are eager to work with key business introducers across the Midlands.鈥
Legal advice was provided by Roy Botterill, partner at law firm Shakespeare Martineau.
