CM Downton Ltd has purchased C&H (Hauliers) Ltd, saving 180 jobs and preventing the £23 million turnover business from entering liquidation.
C&H’s parent company, The Charles Gee Group, went into administration on Monday, October 21. Downton confirmed the deal on Friday, October 25, following negotiations with administrator FRP Advisory, and will take over all of C&H’s operations, effective immediately.
Andrew Downton, managing director, CM 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 sees 180 jobs 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 the Gloucestershire-based haulier’s fleet.
