HSBC SPL

Superior Freight has landed "gamechanging" deals and is on a recruitment drive after completing a management buyout giving managing director Andrew Johns sole ownership.

The Evesham-based haulier used a six-figure funding package, secured with HSBC, to fund the purchase of 80% of the shares from the company’s inactive shareholders.

Announcing the MBO, the company said that turnover is expected to increase to almost £3m while the company has also been able to raise its employees’ wages and is planning to hire six more staff members from the local area in the next year.

Superior Freight, which was founded in 2018, specialises in general haulage company. It operates a fleet of 12 trucks and offers storage and warehousing from its 40,000 sq. ft site in Honeybourne.

Johns said: "After managing the company from inception, I’m so proud to now own Superior Freight. After just a few weeks, I’ve already been able to take on game-changing new customer deals and I’m looking forward to being able to grow the business to its full potential.

Read more

“I’d also like to extend my thanks to Charlotte Thornton-Smith of Harrison Clark Rickerbys for providing legal support, and Ballards LLP for helping to facilitate the deal.”

Mark Lupton, area director at HSBC UK, added: “This is a real life-changing moment for Andrew, who has built the business up and created a company known for its first-class reliability and service.

“HSBC UK is passionate about supporting small businesses in the West Midlands so we’re excited to see Superior Freight expand under Andrew’s ownership, leading to the creation of new jobs in the local area.”

Topics