The Corporate team at business law firm Turner Parkinson are celebrating the completion of a significant transaction, having advised Logson Group, the UK’s largest independent paper-based packaging group, on a deal which sees Belfast based W&R Barnett acquire a 60% shareholding for an undisclosed sum. Logson has facilities across the UK, with North West bases in Manchester, Preston and Merseyside.
Logson Group has revenues of £185m and trades under four brands: Board 24, Boxes and Packaging, Jardin Corrugated Cases and Cases 24. Collectively they offer a full range of corrugated packaging solutions from 17 locations across the UK.
James Sheridan led a team consisting of Director David Easdown, Michael Taylor, Nomaan Ali and Matt Flanagan alongside real estate colleagues Paul Bibby and Helen O’Neill. Sheridan advised Logson on its very first acquisition 12 years ago and has worked with Logson Group on numerous transactions since.
Commenting on the deal, James said “This has been a standout deal for us in what has been a stellar year already. We fielded a multi-specialist team on this transaction demonstrating our strength in depth and market-leading skills in what was a highly complex deal with a novel structure. We have known the team at Logson for a long time. As an independent, entrepreneurial business ourselves, we have much in common with them and this, together with our trade mark commitment to seeing transactions over the line, meant we were able to help deliver the deal on time and on budget. ”
Logson Group CEO Alex Kelly, who will also join the W&R Barnett Board, commented “W&R Barnett’s investment offers long term clarity to all our stakeholders – employees, customers and suppliers. This deal reinforces the core values of our business: fiercely independent, entrepreneurial leadership and an appetite for growth. It is very much business as usual, the future is very bright and I am delighted that the Logson senior team have been given the opportunity to invest in the new structure.
James and his team at Turner Parkinson have become regarded by us as an extension of our own team, once again they delivered for us when it really mattered. They understand our business and they know how to get deals done.”
W&R Barnett is a fourth generation family business committed to growing and investing in successful operating businesses and their employees. Founded in 1896, the group has grown from its origins as a grain merchant and expanded its operations to include a wide variety of commodity trading, storage and industrial businesses.
W&R Barnett CEO William Barnett commented, “We are very excited to invest in the Logson Group and are looking forward to working with Ian, Mike, Alex and the rest of the Logson team to continue its success and growth”.
Logson founder shareholders Ian Loggie and Mike Stephenson will retain a significant share in the business and remain Directors on the Logson Board. Bob McLellan will continue in his role of Non-Executive Chairman.
Grant Thorrnton’s Midlands corporate finance team also advised Logson Group, with DLA Piper in Leeds and PWC advising W&R Barnett.