RSM and Thrings have advised on the sale of South West-based David Hathaway Transport to Kinaxia Logistics Limited.
David Hathaway Transport, a freight, logistics and storage company, was founded by David Hathaway in 1976 and is today run by his three sons from their main office in Yate in Gloucestershire. The company currently employs over 120 full time staff across two sites in Yate and Royal Wootton Bassett.
This marks the twelfth acquisition by Kinaxia Logistics since they were founded in 2012. As with the rest of the companies within Kinaxia's haulage and warehouse group, David Hathaway Transport will keep operating under its current name and management will remain the same, securing continuity for customers and staff.
Ian Wherry and Mark Colling from RSM advised founder and owner David Hathaway, with Elaine Meyrick and David Mears from commercial law firm Thrings acting as legal advisers.
Ian Wherry, corporate finance partner for RSM, said:
'We have seen a lot of M&A activity in the logistics sector over the last few years and are delighted to have been able to use this experience to assist a long-standing client like David Hathaway to deliver a deal that provides a great opportunity for continued growth in the business.'
David Hathaway, founder of David Hathaway Transport, said:
'Over 40 years after starting as a coal merchant, I am very pleased to see the business pass on to Kinaxia, which has an ethos similar to our own – while continuing to bear the family name under the management of my three sons. I am very grateful to them and all of our hardworking staff for building the business we are so proud of today. I would like to extend my thanks to Ian and Elaine and their teams, for their hard work and professionalism in getting the deal over the line.'
David Mears, commercial property partner at Thrings said:
'I am pleased to have worked with David since those early days 25 years ago, to grow David Hathaway Transport into the successful two centre warehousing and distribution business it is today. With the company now within the Kinaxia group and in the capable hands of his sons, we wish David a happy and well deserved retirement after many years of dedicated service to his staff and customers.'