East Mids logistics firm sold to German multinational
Corby-based third-party logistics and storage specialist, RCS Logistics, has been sold to Rhenus Beteiligunge International.
The deal means RCS will join the other Rhenus subsidiaries in the UK in becoming part of The Rethmann Group of companies, headquartered in Selm, Germany.
Based in Corby, Northants, and originally established in 1973 as Ray C Smith Transport, RCS Logistics is a third-party distribution, logistics and warehouse service provider.
The company employs 135 people at its 350,000 sq ft facility.
A team of professionals from the East Midlands have supported the deal including Paul Bevan, Pete Wood and Lisa Huckerby from Mazars Deal Advisory, alongside Tim Gladdle, Toby Preston and Ellie Reynolds from Bray & Bray Solicitors.
Simon Smith, chairman of RCS Logisitics, said; “Given the historical family ties, the decision to exit RCS was a difficult one; but a decision that will ultimately enable my father’s company to continue to flourish under the wider Rhenus umbrella.”
Paul Bevan, M&A partner at Mazars Deal Advisory, said; “In RCS we have a high performing business, clearly operating in a very competitive sector. We are delighted to have led this transaction; and on approaching Rhenus we found a very ambitious strategic buyer, who are also high performing and keen to expand their UK operations.”
Tim Gladdle, corporate partner at Bray & Bray, said: “We were very pleased to be able to provide the legal advice to the selling shareholders where the sellers, the buyers and all of their advisers were of one mind; to get the deal done amicably, properly and professionally.”
