13th June 2016
Dow Schofield Watts advised the North West’s leading milk logistics company SJ Bargh Group Ltd on its acquisition of a Midlands haulage firm for an undisclosed sum.
The acquisition of RG Bassett & Sons Ltd complements SJ Bargh’s existing operations and adds new capabilities. Bassetts, based in Stoke-on-Trent, will continue as a standalone brand, while SJ Bargh, which is based in Lancaster, will retain its primary focus on specialised logistics, including milk collection and distribution, for clients including Arla Foods, Joseph Heler, and Müller Milk and Ingredients.
Dow Schofield Watts provided corporate finance advice to SJ Bargh and carried out financial due diligence. The negotiations were led by Craig Richardson and Nicola Merritt led the Dow Schofield Watts team that carried out the financial due diligence. Craig said: “The acquisition will further strengthen SJ Bargh’s with the addition of a strategic 11-acre site with 100 employees near Stoke-on-Trent, as well as increasing its general haulage and warehousing operations and adding new driver and related training services. It also allows for the retirement of shareholders at Bassetts. The two companies are well placed for further growth.”
Anthony Finlayson-Green, SJ Bargh Group Managing Director, said, “Our Shareholders and Board recognise Bassetts for their integrity, commitment to quality and operational excellence. We made this strategic step because there is tremendous synergy between our Companies and we are delighted Bassetts are joining the S J Bargh family. The customers of both companies will also benefit as together we offer greater scale with a larger team, more vehicles and warehousing, and a host of complementary services.”
Claire Bassett, R.G. Bassett & Sons Director said, “As the Owner Directors at Bassetts neared their chosen retirement age a decision was made, after five generations stretching back to 1897, to join the S J Bargh family. We are delighted, because we know there is a very bright future ahead with S J Bargh, not least because they share our family values and complement our services. Laurence and I are members of our founding family and will remain within the business to ensure there is a smooth transition and continuity for our customers and employees.”
Established in 1935m the S J Bargh Group now comprises 500+ employees across four key sites in the North West and Midlands with a fleet of 500+ vehicles and assets, along with 120,000 square feet of warehousing.
Scott Wilkinson provided accountancy services to SJ Bargh. Lawyers for the deal were Fielden Marshal Glover Strutt who advised SJ Bargh, and Mills & Reeve who acted for RG Bassett.