A North West firm has secured a large funding package from HSBC to facilitate a management buyout (MBO) of a fellow logistics specialist.
NS Cheshire Holdings received the seven-figure sum ahead of the MBO of Crewe-based Brit European Transport Group, with husband and wife team Rod and Sally Carman stepping down after several decades in charge.
As a result of the transaction, Brit European Transport and all its subsidiaries will come under new ownership from NS Cheshire Holdings, a business-led by the current MD of Brit European.
As part of the MBO, the business will retain all 60 jobs at its Radway Green site, in Crewe.
Graham Lackey, CEO of Brit European Transport, said: "The business will continue to be run with great care and consideration, for the long-term benefit of all those employed.
"I am humbled and honoured to continue this journey with all of the Brit European colleagues and I look forward to the coming years as we continue to develop the business."
Brit European Transport is a specialist logistics firm with expertise in 'high and heavy' transport requirements.
It develops solutions to transport abnormal loads around the UK, and has an "extensive network" of partners for transport into Europe.
James Long, relationship director for HSBC UK, added: "We are pleased to support NS Cheshire Holdings and Brit European Transport with the transition to new ownership.
"This MBO will support the business as it continues its development of innovative transportation services across a growing customer base."
