The future of a Lincolnshire haulage company has been secured thanks to a Leicestershire firm.
RASE Distribution Ltd, owned by Geoff Hill and Kate Dame, has been sold to chemical warehousing and transport specialist HW Coates.
Founded by David and Jean Hill in 1967, RASE is one of the UK’s leading independent transport and storage providers to the packaged hazardous goods sector.
RASE has headquarters in Langworth, and Geoff Hill continue to serve as company director.
Andrew and Co Solicitors acted on behalf of RASE along with Streets Chartered Accountants’ corporate finance partner, Neil Gray.
Commenting on the sale, Geoff said: “This was a landmark decision which will provide long-term business continuity and succession for our staff and our customers.
“In HW Coates we have found a strong partner with a similar culture to RASE.
“As well as extensive experience in the high-value, high-quality logistics industry, they are well financed and have the desire to continue to develop the business we have grown over the last 50 years.
“I’d like to thank Andrew and Co for their advice and expertise; Paul and the team have managed to secure a deal that works well for both parties.”
Associate partner at Andrew and Co, Paul Simpson, said: “Andrew and Co has an established track record of advising on mergers and acquisitions and it has been my pleasure to work with Geoff Hill and the RASE team throughout the deal.
“RASE has led from the front in its field for over 50 years and I’m confident they will continue to go from strength to strength under the HW Coates group.”
• HW Coates Ltd is the market-leading operator in the storage and transportation of packaged chemicals, including crop protection and farm fertilizers, and manages the largest network of COMAH sites across the United Kingdom.