HMT advised the shareholders of Tiger Haulage Limited (“Tiger Haulage”) on the sale to City Link Limited, a subsidiary of Rentokil Initial Plc.
Mr Gerry Zukas, the founder and principal shareholder, has built up Tiger Haulage over 24 years to become City Link’s largest franchisee group with depots in Barking, Birmingham, Hemel Hempstead, High Wycombe, Hoddesdon, Reading, Welwyn Garden City, West Bromwich and Worcester, it operates a networked express parcel delivery services across the UK and Northern Ireland for major blue chip companies amongst others.
Mr Paul Gough joined the Board in 2002 as Managing Director and was instrumental in instigating and concluding negotiations with City Link. The acquisition by City Link continues their strategy of absorbing their franchise network into their group.
Led by partner Andrew Thomson, HMT acted as lead advisors to the transaction. Andrew commented:
“A key feature of this transaction was ensuring that the price adequately reflected the synergies to City Link and it was incredibly satisfying to assist Gerry and Paul to achieve this.”