Swindon-based Watersheds Corporate Finance has led the successful acquisition of a family-run logistics company.
Adam Jones & Sons Group, based in Halesowen in the West Midlands, has been sold to Kenyon Group, whose owner Graham Darnell has more than 25 years’ experience in the transport sector.
Adam Jones & Sons Group started as a small family venture over a century ago and has expanded into a business operating with a fleet of more than 140 vehicles and trailers, focusing on all aspects of transportation, pallet distribution, warehousing and logistics.
The acquisition enables Mr Darnell to bolt the business onto his existing company Kenyon Group, which he also acquired with the assistance of Bath Road based Watersheds, linking the North West and the Midlands by expanding his geographical coverage.
Wendy Lam, Partner at Watersheds, said, “It was obvious when we initially met with the Jones family, Graham wanted to acquire the business. Despite there being great rapport and the family being impressed by Graham’s experience and knowledge of the industry, at the time, they could not let go of the family business.
“We often see this particularly when the business has been passed down generations. It was important to be empathetic and show we understood the tough decision that they were facing.
“At Watersheds, we maintain good relationships with all our clients and contacts and for this reason, it was possible to start negotiations back up quickly even after a few years.
“I am pleased we could make the family feel comfortable with selling their business by introducing Graham who they believed would take care of the staff and customers and grow it to its full potential. We introduced a buyer who could demonstrate their vast experience in the sector and someone with a track record of making successful acquisitions.”
Expert legal advice was provided by Royds Withy King with funding provided by the Royal Bank of Scotland and Haydock Finance.
Pictured: New owner, Graham Darnell and Wendy Lam, Partner at Watersheds.