A management buyout has been completed at a distribution and warehousing specialist after years of preparation.
H&M Distribution Group, based in Newton-le-Willows, secured an eight-figure funding package from Shawbrook, and now aims to continue its international growth.
H&M Distribution provides UK and international transport services from hubs in the North West, St Neots and Gloucester. It was founded in 2007 and employs more than 150 people.
Shawbrook said the company's majority shareholders, who will remain in the business, had been preparing for succession for several years.
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Shawbrook was introduced to H&M Distribution by Matt Scott and Hamish Morrison of BHP Corporate Finance.
Dean Woodyer, managing director at H&M Distribution, said: "We have been preparing for this MBO for nearly five years and wanted a banking partner with experience and sector knowledge. Shawbrook went the extra mile to build a proper relationship and provide a tailored solution.
"The whole senior leadership team at H&M is looking forward to building on that momentum to drive further growth."
Matthew Fannon, director at Shawbrook, said: “The management buyout follows several years of significant growth and careful succession planning at H&M. We were able to provide the team with a flexible solution made up of structured-term debt alongside a working capital facility.
"We look forward to seeing the MBO drive further growth and success for H&M.”
H&M Distribution was advised on the deal by BHP Corporate Finance; by Clarion’s corporate team, led by Sarah Harrison, and its banking team, led by Ben Slack. Gordons advised the management team.
Shawbrook was advised by Gunnercooke, while financial due diligence was provided by Azets.
