DTS is a warehousing and distribution firm based in Cramlington, Newcastle-upon-Tyne, which operates a road transport fleet in addition to a 250,000 square foot industrial estate and distribution centre. Its acquisition follows Winch & Co’s purchase of Loughborough-based Eclipse Distribution Solutions, a transport company worth £4 million.
Based in Leeds city centre, Winch & Co invests in UK companies operating in fast-moving consumer goods and service-based industries. Founder and managing partner Nathan Winch lauded the company’s latest acquisition as a strong step towards its logistics acquisition target alongside its recent purchase of Eclipse Distribution Solutions.
“DTS has plenty of potential, and for us it’s an exciting prospect,” he said. “The previous owners built a solid business, and our job is to now drive it forward and take it to its next level.”
Yorkshire based law firm Ison Harrison, who advised Winch & Co on the transaction, are a highly accredited law firm that has more than doubled its commercial and corporate offering over the past two years by strong recruitment and case acquisition.
An Interview with Richard Coulthard, Director and Head of Corporate at Ison Harrison Solicitors
Can you tell us more about the role you played in advising Winch & Co on this acquisition?
I head up the corporate and commercial services division at Ison Harrison Solicitors and I led the advice work on this transaction from the very early stages, where the parties were still negotiating the heads of terms, through to completion.
I have a good relationship with Winch & Co and they often turn to us for advice around deal structures. This matter was no different.
The transaction involved a series of complications around funding and the nature of the property owned by the company, which had to be resolved. I was assisted by one of my fellow partners, Chris Waddingham, on the commercial property aspects of the transaction.
What specialised skills did you draw upon as part of this work?
There were some unusual features of this transaction, particularly in respect of the property, the leases and involvement of a pension scheme, all of which had to be resolved to the satisfaction of the funder.
I have a good relationship with Winch & Co and they often turn to us for advice around deal structures.
Another factor which required negotiation related to the working capital position in the business and there was a series of tax related matters to consider.
Your firm has an extensive history with Winch & Co. Can you tell us about some of your past work together?
We advise Winch & Co on a wide range of matters including mergers and acquisitions, property matters, dispute resolution and corporate structure.
I have advised Winch & Co on several acquisitions, particularly in the haulage sector, as well as advising on equity investments in businesses and resolving some dispute resolution matters. We have a strong relationship with the owners and directors, who also instruct us privately on matters, and we have recently held a joint webinar on business acquisitions and leveraged buyouts.
