Henley-on-Thames: HMT advises on MBO of international logistics group

HMT, led by partner Mark Lucas; associate director Matthew Gordon-Smith; and tax director Holly Bedford, advised the management team of International Logistics Group (ILG) on its management buyout (MBO).

The transaction was supported by equity funding from Percipient Capital with Santander providing mezzanine funding through its ‘Breakthrough’ fund alongside term debt and working capital facilities.

Since its establishment in 1990, ILG has grown to become a market leader in fulfilment and courier services with a growing specialism in the fashion and beauty space. Its customer base includes leading brands such as Charlotte Tilbury, Rupert Sanderson, Bupa and Trend.

The transaction has allowed founding shareholder Grant Ashley to exit, and sees managing director Mike Stephenson and four members of the management team acquire the business to lead it into its next phase of growth.

Stephenson commented: “HMT were invaluable in sourcing the necessary funding, structuring and negotiating a deal which provided a great outcome for all parties. We look forward to working with them again in the future.”

Lucas commented: “We are delighted to have acted for Mike and his team who are part of a dynamic and expanding business which provides them with an exciting opportunity to grow and realise significant value. We wish them the best of luck for the future.”