Shoosmiths advises Autologic on its sale to Stobart

Shoosmiths advises Autologic on its sale to Stobart

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Author: Sophie Llewhelin

Shoosmiths has advised client Autologic Holdings plc on its £12m sale to Stobart Holdings Limited, a subsidiary of Stobart Group Limited.

The transaction was effected by means of a scheme arrangement and became effective on 9 August.

The Shoosmiths team was led by Midlands-based corporate partner Martin Letza, with significant assistance from associate Emma Dolphin, and solicitors Alistair Hammerton and Chloe Turpin.

Autologic is one of the largest finished vehicle services and logistics companies in the UK and Europe, and delivers a diverse range of high quality, automotive services to car manufacturers, importers, rental operations, contact hire companies and dealers.

Its headquarters are in Northampton with various sites across the UK, as well as operations in Belgium, the Netherlands and the Czech Republic.

Following a management buyout in 1996, Autologic successfully floated on the London Stock Exchange in 1997. For the year ended 31 December 2011, it reported revenues of approximately £144.7m and profits, before tax from continuing operations, before exceptional items, of £2.1m.

Shoosmiths' Martin Letza said: "This is a fantastic result for our client. Autologic has an excellent reputation in the automotive logistics market and will be a great business fit for Stobart.

"We're delighted to have been called upon for our corporate expertise and to have been involved in what was a strategically important deal for both businesses."

Autologic Holdings' chief executive Avril Palmer-Baunack said: "The deal represents a great opportunity to build the Autologic business as part of a dynamic group. The Shoosmiths' team was instrumental in helping to deliver a great outcome."

Stobart was advised by corporate partner Jonathan Brown and legal director Roger Pointon of Hill Dickinson's Liverpool office.

This is the latest deal for Shoosmiths' corporate team, having recently been part of the national law firm's cross-discipline team which helped client Hitachi Rail Europe (HRE) secure a £4.5 billion contract to build and service new trains for the next 30 years.

The contract, approved by Transport Secretary Justine Greening, will create 900 jobs and secure thousands more.