21st June 2007
Dow Schofield Watts has advised on the vendors on the sale of Taygroup plc to the management team.
Southport-born businessman Nick Taylor has sold his haulage business he founded in Burscough in an £8.75m Management Buyout (MBO) deal funded by The Royal Bank of Scotland (“RBS”). Nick, the Chairman of Taygroup plc, and Paul Craven, the company’s finance director, have sold their shareholdings to an MBO team led by Sales Director Jon Wright and Operations Director Lloyd Dennaford. Paul, however will remain with the company in his current capacity.
Taygroup is an independent haulage group, specialising in distribution and warehousing for a blue chip client base that includes Ikea, Tesco, Cereal Partners UK and W Jordan (Cereals). Taygroup, which was established in 1993, employs 133 people and has a fleet of over 300 trucks across their four locations.
Adrian Cayton and Jeff Cummins from RBS Commercial Banking in Southport led a team that included colleagues from the group’s Lombard and Invoice Finance divisions.