Leading North East commercial law firm Muckle LLP has acted for the owners of Northumberland-based Fone Logistics Ltd on its £3.6 million sale to Daisy Group plc, a leading provider of unified communications to the SME and mid-market.
Before completion of the sale, a part of Fone Logistics business, which relates to the network “3”, was transferred to Activ Business Communications Limited, a company owned by the former owners of Fone Logistics. Activ will now distribute “3” products and services nationwide to provide business solutions.
Muckle LLP has had a long standing relationship with Ian Gillespie, majority shareholder of Fone Logistics Ltd for the past 15 years. The firm also advised the Gillespie family prior to this on its Nat Comm Ltd telecommunications business, which was sold in the 1990s. Fone Logistics, which was set up in 1996, supplies mobile handsets and airtime to more than 600 dealers, including 02, Vodafone and Orange, and predominantly sells to small to medium sized businesses, receiving commission from the mobile networks for connecting customers.
Hugh Welch, senior partner at Muckle LLP, said: We pride ourselves on strong relationships with our clients and have been with the Fone Logistics business every step of the way – from inception, to growth, to sale. Muckle LLP has been advising Fone Logistics on the legal aspects of a variety of day-to-day business issues over the years and we very much appreciate the loyalty which the Gillespie family has shown to this firm. We had a team of eight working on the Fone Logistics sale, headed up by our Corporate Finance partner, Craig Swinhoe.
Craig Swinhoe said: “We were delighted to help them through both the sale of Fone Logistics, as well as the set-up of their exciting new business, Activ. The deal had its own complexities and time pressures, but the end result is a testament to the wealth of experience and hard work of our team, which also included corporate finance assistants Vicky Hewison and Rodica Damian. This acquisition comes off the back of a record quarter for Muckle where we’ve advised on 25 transactions with an aggregate value of over £325m. We have a fantastic, leading team and pride ourselves on the support which we offer to businesses.”.
Ian Gillespie from Fone Logistics Ltd said: The telecoms market is getting more and more competitive and is ripe for consolidation. Muckle LLP has advised us on everything we’ve been through and have been excellent to do business with “very responsive and with fantastic attention to detail. Post-acquisition of Fone Logistics Ltd, I will be working, with Michael Fitzpatrick (former financial director of Fone Logistics) on my new business interest, Activ Business Communications Ltd.”.