Gordons advises joint venture on acquisition of 3G Truck and Trailer Parts
Wednesday 28th July 2021
Gordons has advised on the acquisition of commercial vehicle components supplier 3G Truck and Trailer Parts (3G).
Rotherham-based 3G, which has a £16m turnover, was established 11 years ago by Richard Ash, Stewart Ashall and John Carr, with John Bruce and Peter Beaumont as investors.
The company was sold to TVS Europe Distribution (TVS) in 2020. The transaction was subsequently voluntarily referred to the Competition and Markets Authority, which directed TVS to dispose of its shareholding.
Following a competitive sale process, a joint venture between commercial brake specialist Thos Winnard & Sons and investors John Bruce and Peter Beaumont agreed a deal to buy back the company.
Gordons corporate partner Jonathan Asquez led on the deal assisted by corporate solicitors Lisa Murphy and Andrew Moore.
Speaking about the deal, Jonathan said: “We were very pleased to provide advice on this deal, particularly as we worked on the sale of 3G to TVS last year.
“This meant we were able to facilitate the transaction quickly thanks to our existing knowledge of both companies.”
You can learn more about the work of Gordons’ corporate and M&A expertise here.
