KBS Corporate Oversees Sale of STR Logistics
STR Logistics is a dedicated provider of logistics services, predominantly focusing on the delivery of items across South West England. Founded in 2000, the company has become well established within the delivery sector, and benefits from a loyal client base some of whom have been with the business for over 15 years.
Steve Richardson and Colette Richardson, the company shareholders, approached KBS Corporate with the sale of their business in order to allow them to pursue new unrelated business interests. During initial discussions with the shareholders it became clear that they wished to maintain a sense of normality within the company. This informed KBS Corporate’s research strategy and allowed us to pursue a trade buyer, who would have existing knowledge of the sector.
This approach proved highly successful with 46 interested parties predominately from trade, with some interest from investment and private buyers. KBS Corporate was able to utilise this appetite to generate four competing offers.
The successful offer came from trade buyer 2020 Logistics Solutions. Whilst the company is relatively new it was established by Anthony Quinn and Peter Adams who have many years of experience in his previous business, Quinn Logistics Consultancy. 2020 Logistics Solutions commented:
“We are absolutely thrilled and delighted to have acquired STR which has an amazing and successful history providing professional transport logistics solutions from the heart of Devon. The company has an enviable footprint and scale from its’ location in the South West providing reliable, well executed, regional and national transport solutions to Logistics, Retail and Commercial customers.
We are now very much looking forward to the exciting journey ahead working with our new colleagues and much valued customers to take STR to the next level of development. We plan to expand our service portfolio and increase our geographic presence to serve our existing and future customers with ‘best in class’ tailored UK transport logistics, storage, and warehouse solutions.”
Following the sale Anthony Quinn and Peter Adams will become Joint Managing Directors of STR Logistics. Steve Richardson will be stepping away from the business but has accepted the honorary position as STR Lifetime Chairman.
STR Logistics was advised by Matthew Sibley, Corporate Deal Executive at KBS Corporate, throughout the process.