Mazars delivers on removals business deal

MIDLANDS entrepreneur Stephen Hayward has acquired a UK-based international removals business in a multi-million pound deal.

The deal was originated and structured by the Birmingham corporate finance team at accountancy and advisory firm Mazars.
 
Founded in 1917, E Pearson & Sons (Teesside) employs around 100 staff and has built a long-standing reputation as one of the UK’s leading international service providers to the home moving market.
 
Pearson operates its international fleet from Middlesbrough where the business was founded and also runs a sales centre based in Sutton Coldfield.
 
Hayward, previously headed European logistics firm Christian Salvesen’s  largest business unit, and was a former MD of Palletline.
 
More recently Hayward has advised and supported businesses in the logistics sector with expansion in the UK and across Europe.
 
Commenting on his acquisition of Pearson, he said “This is a great business with terrific growth potential, based on delivering outstanding service to customers, and I am proud to be the new owner of a business moving towards its centenary year in 2017 with youthful vigour.”

The deal was originated by Mazars and its Midlands corporate finance team of Nick Johnson, partner, and Gurinder Sehmi, senior manager, structured the acquisition and finance.
 
Funding was provided by Shawbrook Business Credit.
 
Paul Edmeades, Shawbrook’s business development director for the Midlands region, said: “Shawbrook were delighted to support Stephen in this acquisition by offering a flexible funding package consisting of asset based lending and cash flow facilities”.
 
Legal advice was via Roy Botterill, partner at law firm Shakespeare Martineau.