buyout

Cardinal Maritime completes buyout

Manchester based logistics provider, Cardinal Maritime Group, has completed the transfer of its ownership from its founders to management via an employee trust. A deal with founder Brian Hay has delivered control of the business to the management team but Mr Hay will continue as chief executive and maintain a 49% shareholding. The deal, which valued the business at £ 15m and constructed with the assistance of Grant Thornton and DWF, ... [+]