Chemical and transport specialist, HW Coates, has secured the long-term future of Lincolnshire haulage company RASE Distribution after acquiring the businesses.
RASE owners, Geoff Hill and Kate Dame, sold the family-run business to the Leicestershire firm for an undisclosed sum.
Mr Hill will continue to serve the company as a Director.
Founded by David and Jean Hill in 1967, Langworth-headquartered RASE provides transport and storage serves to the packaged hazardous goods sector.
Andrew & Co Solicitors acted on behalf of RASE along with Streets Chartered Accountants’ Corporate Finance Partner Neil Gray.
Associate Partner Paul Simpson said: “Andrew & Co has an established track record of advising on mergers and acquisitions and it has been my pleasure to work with Geoff Hill and the RASE team throughout the deal.
“RASE has led from the front in its field for over 50 years and I’m confident they will continue to go from strength to strength under the HW Coates group.”
Mr Hill added: “This was a landmark decision which will provide long-term business continuity and succession for our staff and our customers.
“In HW Coates we have found a strong partner with a similar culture to RASE. As well as extensive experience in the high-value, high-quality logistics industry, they are well financed and have the desire to continue to develop the business we have grown over the last 50 years.”