TransLinc

Clearwater advised shareholders on the sale of a transport solutions business via a £50 million buy-in management buy-out backed by RJD Partners.

TransLinc is a leading supplier of specialist transport solutions with a
fleet of over 3,000 vehicles, a staff of almost 500 and a turnover of more than £30 million.

Clearwater originally advised the shareholders on TransLinc’s management
buy-out in 1998 from local authority ownership in a deal originated by Clearwater. A strong relationship since meant Clearwater were first choice to be appointed to handle the sale.

The sale process started with a strategic review to assess the appropriate exit strategy for the non-management shareholders and resulted in a fully controlled auction to a carefully chosen shortlist of trade and private equity buyers culminating in the successful buy-out by RJD Partners.

The deal gives RJD Partners a majority stake in the business, providing an exit for all the non-management shareholders, the retirement of the managing director and a partial equity release for the finance director and sales and marketing director, both of whom will remain with the business.

Clearwater delivered a price 40 per cent above client expectations and advise to carry our vendor due diligence made sure a tight process was maintained with minimal disruption to the business.

Deal leader, Dan Bowtell showed total commitment to the deal despite breaking his Achilles tendon and in plaster for 8 weeks towards the end of the deal, perhaps the only completion he has turned up to in jeans.

Brian West of TransLinc said:

“Phil Burns of Clearwater had been TransLinc's advisor for the original Management and Employee Buyout in 1998 and remained in touch with the business during the nine years of trading and understood the specialist nature of TransLinc's services in the local authority
market.

"TransLinc's objective of creating a successful company for dealing with the local authority fleet and specialist transport market has been achieved.“