C&H (Hauliers) has been acquired by CM Downton in a deal that creates a £114m a year turnover haulage group.
Charles Gee Group, parent company to C&H, entered administration last week citing "acute cash-flow problems".
Downton - MT Haulier of the Year 2012 - had a turnover of £93m in the financial year-ending 30 June 2012, posting a pre-tax profit of £6.3m. C&H had a turnover of £21.2m for the year-ending 31 March 2012, with a pre-tax profit of £215,702.
Downton MD Andrew Downton said it had been looking to expand through either acquisition or merger and C&H “was a perfect match” as both hauliers work in the paper and publishing sectors.
“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 staff at C&H transfer to Downton under TUPE regulations (Downton currently has 1,350 employees across the UK) and adds 130 trucks and 250 trailers to Downton’s fleet of 600 trucks and 1,800 trailers.
Downton added: "We would like to clearly state that Downton has absolute confidence in Steve Mercer and the management team at C&H, and we will continue to work with them going forward as we build up this great business.”
C&H (Hauliers) operates out of depots in Tilbury, Chatham, Aylesford, Didcot, Kings Lynn and Felixstowe.
