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Expert assistance in management buy-out

NORTHAMPTON-headquartered Panther Warehousing has been sold as part of a £17m management buy-out.

The buy-out, led by Managing Director Colin McCarthy, was supported and backed by private equity investment from Lloyds Development Capital (LDC).

Panther Warehousing specialises in two-man and one-man assisted delivery services for major brands and retailers, including Dunelm, Silent Night and Bosch Siemens.

The MBO allowed current Chairman and founder of the business, Wilson Barrett, to retire and provides further investment for future growth and expansion of the business which, together with its head office in Northampton, has sites in Rugby, Bristol, Watford, Taunton, Leeds, Wakefield and County Durham.

Professional support for the exiting shareholders came from corporate law specialist, Gerald Couldrake who led the Howes Percival team. Gerald was supported by Matt Thompson (corporate solicitor), Mike Hollis (tax specialist), Hannah Pryce (employment solicitor) and Alexandra Kirkwood (property solicitor). Corporate finance support was provided by Livingstone Partners.

Wilson Barrett said: “From starting Panther from a bedroom in my house in 1989, I’ve been on a real journey with the business, through both good and bad times, and it is with mixed emotions that I hand over the reins. However, I’m confident that with the new investment from LDC and under the continued leadership of Colin McCarthy, Panther will continue to prosper and further strengthen its position as the market leading home delivery company. I’d like to thank the team at Howes Percival who provided round-the-clock, commercially focused support and helped make the process easier for us.”

Colin McCarthy will continue in his role as Managing Director with Panther and is looking forward to further growth over the coming months: “We have got off to a terrific start this year and the forecast for the next 12 months looks really promising. Our newest site in Watford is now coming into its own and we hope, with LDC’s support, to be able to develop new service innovations to help support our customers. Howes Percival have been our legal advisors over the last few years as the business has really taken off and we look forward to continuing to work with Gerald and Matt as the business develops”.

Gerald Couldrake added: “This is one of the real success stories of Northampton – a local business which has flourished and organically grown over the past few years, now with backing from a private equity fund like LDC to help take that growth one step further. Panther looks to go from strength to strength over the next few years and it was a pleasure to be able to assist with the buy-out and Wilson’s exit from the business.”

If you are thinking about exiting your business, or are thinking about acquiring another, contact Gerald Couldrake on 01604 258011 or by email at .?

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