Downton is pleased to announce the purchase of the business of C&H (Hauliers) Ltd.
The acquisition from parent company The Charles Gee Group – which went into administration on Monday 21 October – rescues the £23m turnover business from the threat of liquidation, saving 180 jobs.
Downton confirmed the deal on Friday 25 October following negotiations with Geoff Rowley, Phil Armstrong and Andrew Sheridan, partners of specialist restructuring, advisory and recovery firm FRP Advisory, who were appointed as joint administrators. Downton will take over all of C&H’s operations, effective immediately.
Andrew Downton, Managing Director, C M Downton Ltd, said: “The Downton Group has been looking to expand its business through either acquisition or mergers, and the C&H business was a perfect match. We both work in the same sectors – in particular with paper and publishing clients – and there are synergies for both businesses that made the deal a no-brainer.
“C&H is a fantastic business with a great heritage, which unfortunately had suffered through the cash flow difficulties of the holding company. To be able to save this business – and its staff – while driving forward our own business was too good an opportunity to turn down.”
The deal means that 180 jobs are being rescued, with all employee rights fully protected under Transfer of Undertakings (Protection of Employment) Regulations. The acquisition also sees Downton take over significant assets, with 130 tractor units and 250 trailers added to its fleet.