1st Class Logistics has secured a £1.750m facility from Shawbrook to support the completion of a management buy-out (MBO).
1st Class Logistics provides a time critical, same day delivery service for customers across the UK and Europe.
Using a combination of employed and owner drivers, the firm completes end-to-end transportation of parcels, pallets and other material to very specific, critical timelines and provides storage facilities for high-end businesses across a range of sectors.
Founded in 2014 by Ashley Rowden and Rupert Upton, 1st Class Logistics has an established management team with a longstanding succession plan to support its continuity and growth.
The client was looking to complete a MBO as Ashley Rowden prepared to exit the business.
The firm was introduced to Shawbrook by Begbies Traynor Advisory to assist with funding for this change in ownership.
The team at Shawbrook structured a £1.750m leveraged finance facility to support the client with the completion of the MBO.
Rupert Upton, managing director of 1st Class Logistics, said: “1st Class Logistics has celebrated a decade in specialist transport and logistics services recently and we are very proud of the growth we have seen in the business and the time critical support provided to so many clients during this time.
“A key contributor to this success is the strength of our management team and I would like to thank Ashley Rowden for his guidance and leadership over these years. We wish him all the best for the future.
“The support from Shawbrook has also been very welcome. Fundamentally, the expertise of the team, their relationship-led approach and willingness to work through our plans and objectives delivered a smooth and well-managed transition for everyone involved.”
Oliver Jenkins, senior director at Shawbrook, added: “1st Class Logistics is a great example of a niche owner managed SME, with key differentiators being their speed of delivery, excellent customer service, right first time approach and the care for the material they handle for their high end clients.
“The opportunity to support on this transaction was too good to pass and we look forward to working with this client again in the future as the firm continues to grow.”
