M&A Advisory

MKT Logistics

Advisers to Lancashire logistics firm, MKT Logistics, on its sale to privately owned transport company, Turners.

The deal

We’re pleased to have supported MKT Logistics (MKT) on its sale to Turners as the logistics group continues to strengthen its geographical footprint across the UK.

MKT provides haulage and pallet distribution services throughout the UK, with a fleet of almost 90 trucks. It was set up in 1999 by Managing Director Matthew Kibble, moving to its current base in Nelson, near Burnley, nine years later. The firm subsequently bought out Kent-based Shakespeare Transport, and Coventry-headquartered FullForce Logistics.

Our Corporate Finance team led by Director Tom Coombes acted as the lead advisor and presented the opportunity to several potential international acquirers. Turners emerged as the standout strategic acquirer and provides a home for the MKT business to thrive. Our team negotiated terms and managed the process through to a successful completion.

Tom Coombes, Director at FRP Corporate Finance said: “This represents another successful transaction in logistics and distribution for the Cardiff team, following on from the sale of AIM Logistics to Fowler Welch last year. We continue to develop our sector expertise which allows us to deliver exceptional results for our clients and provide leading advice in the space.”

Matthew Kibble, Managing Director of MKT, said: “I have always wanted MKT to become part of something bigger. I have known Paul, the Managing Director, for 14 years and I know my business couldn’t have gone to a better home.

“The team provided guidance and support throughout the whole transaction, providing clear and concise advice at every stage of the process. Tom acted in the strictest confidence throughout and enabled me to concentrate on the day-to-day operations of the business. Thank you all for your hard work and making sure the transaction ran as smoothly as it did.”

Legal advice to the owners was provided by Capital Law, tax advice was provided by Parisi Tax and accounting support was provided by SB&P.

Deal summary

Date:

July 2022

Sector:

Industrials & manufacturing

Deal type:

Selling a business

Deal size:

Undisclosed