C M Downton has acquired £23million turnover business C & H (Hauliers) Ltd, since its parent The Charles Gee Group went into administration.
The acquisition will also save some 180 jobs.
Andrew Downton, managing director of Downton said: “The Downton Group has been looking to expand its business through either acquisition or mergers, and the C&H business was a perfect match.
“We both work in the same sectors – in particular with paper and publishing clients – and there are synergies for both businesses that made the deal a no-brainer.
“C&H is a fantastic business with a great heritage, which unfortunately had suffered through the cash flow difficulties of the holding company. To be able to save this business – and its staff – while driving forward our own business was too good an opportunity to turn down.”
Charles Gee went into administration on Monday 21 October, and Geoff Rowley, Phil Armstrong and Andrew Sheridan, partners of recovery firm FRP Advisory LLP, were appointed as joint administrators.
“We would like to clearly state that Downton has absolute confidence in Steve Mercer and the management team at C&H, and we will continue to work with them going forward as we build up this great business,” said Downton.
