Azets, the regional accountancy firm and business advisor to SMEs, has advised on the MBO of Expect Distribution Ltd, supported by Shawbrook Bank who provided an undisclosed funding package.
Expect Distribution is amongst the UK’s most successful contract logistics operators within the haulage and warehouse industries. The business was established by the Rushworth family, who have successfully run and grown it for over 30 years under the stewardship of Robert and Neil Rushworth.
In this time, their award-winning service has met the needs of commerce and industry all over the UK. They deliver bespoke logistics packages from palletised and international distribution to contract logistics and warehousing for clients including Boost Drinks, Astonish and Card Factory.
Based in Bradford with over 300 employees and 130 vehicles across 4 sites,
Expect Distribution recently won the ‘Haulier of the Year’ at the Motor Transport Awards for the second year running.
Azets provided corporate finance advice to Matthew Kilner and Andy Taylor the incoming management team, including deal structuring and raising the debt finance to fund the deal. Rob Burton, Corporate Finance Partner at Azets in Yorkshire led the deal and was supported by Richard Weston, Corporate Finance Manager.
Matthew Kilner (Finance Director) and Andy Taylor (Operations Director) said: “Expect is a business that is close to our hearts, and we are excited to take responsibility for its future growth. We are really proud of what we have achieved so far and thrilled to be leading the next stage of Expect’s journey. We have taken the reins at an exciting time for the business and for the wider Logistics industry. We relish the opportunities ahead of us
and look forward to realising those with the colleagues, customers and suppliers who allow the business to be a market leader. Our thanks to all parties who supported the MBO and worked with us to make it become a reality.”
Rob Burton, Corporate Finance Partner at Azets in Yorkshire said: “This deal demonstrates the vibrant business environment in Yorkshire: Expect is a real
success story, built on entrepreneurship, innovation and quality, and the new management team is in a fantastic position to take it from strength to strength. This is a great deal and demonstrates the strength of the Yorkshire deals market, and we look forward with confidence to 2022."