Sheffield truck parts supplier Fleet Services acquired by MJM88 Ltd in deal securing future growth
Following completion of the transaction, Adrien Kentzer will remain involved with the busines
Fleet Services, a leading Sheffield-based supplier of truck, van and trailer parts based in Newhall Road Industrial Estate, has been acquired by MJM88 Ltd this month following a successful transaction led by Consultant Chris Alsop. The purchaser was advised by Wake Smith Solicitors and Shorts, with funding from Close Bros – the value of the deal remains undisclosed.
Following completion of the transaction, Adrien Kentzer will remain involved with the business as a consultant for a period of 12 months, supporting a smooth handover and providing continuity for customers and suppliers. The acquisition secures Fleet Services' long-term future and provides a strong platform for continued growth. Professional advisers on the deal were Wake Smith Solicitors and Shorts, two local firms with a long history of supporting businesses across the South Yorkshire region.
Mat Moorby, Director of MJM88 Ltd, said: ‘‘I am grateful for Chris Alsop’s tenacity, knowledge and experience which made all the difference in getting this purchase over the line. This has positioned me well to take Fleet Services to the next level of growth. Thanks also to Wake Smith Solicitors for their helpful, commercial approach to their legal advice’’.
Chris Alsop, Consultant at Shorts said: “It has been a pleasure supporting local entrepreneur Mat Moorby in his first acquisition. I am particularly grateful to Adam Ames, Corporate Director here at Shorts and Sam Cray, Corporate Finance Assistant Manager, for producing a full set of detailed Forecasts within just 48 hours. This showcased this service from Shorts and made a huge difference to obtaining funding.
“I am also grateful to Wake Smith Solicitors - Rebecca Robinson, Aaron Patel, and Christie Smith - who advised MJM88 Ltd'.”
Wake Smith Solicitors' Aaron Patel provided legal advice to the purchaser MJM88 Ltd, leading on the acquisition including reviewing and advising on due diligence and drafting and negotiating the asset purchase agreement and ancillary transaction documents, with colleague Christie Smith advising on the commercial property lease matters.
Aaron Patel, solicitor in the company commercial team at Wake Smith Solicitors said: "Wake Smith Solicitors acted for MJM88 Ltd on the purchase of the business. We are pleased to have secured a deal that gives the business a strong future and ensures it continues to play a vital role in the truck and trailer parts sector with Mat bringing his industry knowledge and plans for growth, marking a new chapter for the business."
Funding was provided by Close Bros (Casey Baldwin).