International freight forwarding specialists Freight Despatch Worldwide Ltd founder John Collumbine has sold the business with the help of Wake Smith Solicitors.
Wake Smith acted for John Collumbine on the sale of the company to the existing management team Steve Bowling and Derek Libberton.
The deal involved Wake Smith plus advisors from Shorts, Dawson Radford and Calverton Finance.
Duncan Shepherd, Director and Head of Company Commercial at Wake Smith Solicitors, said: "A pragmatic commercial approach was taken by Wake Smith and all the advisors to make sure an effective handover took place from the owners who originally started the business to the trusted management team."
Martin Dean, Corporate Finance Executive at Shorts, added: “We are delighted to have advised Steve and Derek on the successful completion of this transaction, and we look forward to seeing the continuing success of the business under new ownership.”
Joanna Dawson, Solicitor acting on behalf of the purchasers said: “Derek and Steve have a great opportunity to grow the business established by John, and I am pleased that we have been able to support them with that.”
Emily Revill of Calverton Finance added “Historically, John and his team, Derek and Steve who now are the new owners of the business have done an outstanding job in driving the historical growth of Freight Despatch Worldwide and we look forward to supporting the company moving forward.”
John Collumbine said: “When I made the decision to sell, I was extremely happy that Derek and Steve wanted to take over running the business. As part of the existing senior management team, I know that FDW is in safe hands with them and I am very much looking forward to watching them continue to grow and succeed.”
Steve Bowling added: “As far as existing clients are concerned it will be business as usual and we are very excited for the next phase of what promises to be an exciting period for the company. We are very much looking forward and are ready for the challenges ahead."
FDW was established in 2004, by John Collumbine who had over 30 years’ commercial and forwarding experience.
Over the last 15 years, the company has forged close relationships with UK and overseas carriers and freight partners throughout the world, ensuring goods arrive at their destination safely and on time.
For further information on company commercial services contact Duncan Shepherd at [email protected] or on 0114 224 2023.
