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TLT advises on sale of Rapid Racking Limited

Award-winning top 100 law firm TLT has advised Kemble-based multi channel marketing business Rapid Racking in its sale to French firm Manutan International SA. Corporate finance lawyers John Wood and Andrew Webber at TLT worked alongside advisers from Grant Thornton in the transaction which saw control of the company handed to the Manutan Group's Chairman, Jean-Pierre Guichard.

Established in 1986, Rapid Racking is the leading distance-seller in the shelving and storage solutions market. Supplying a wide range of UK businesses, Rapid Racking has a turnover approaching £20 million and has built a strong reputation for quality and service. 

Commenting on the sale, majority shareholder Helen Aylward-Smith said, “With Manutan on board, Rapid Racking will enjoy the benefits of combining a whole wealth of resources with the expertise and extensive experience of the existing team. The acquisition will also provide Rapid Racking with the opportunity to generate a more European-wide footprint, by building on their UK presence with new European markets. TLT clearly understood our needs and the team's calm, pragmatic and personable approach made them a real pleasure to work with."

John Cummings and Mark Hobbs, who have been running Rapid Racking as joint managing directors since 2004, will be staying with the business under the new ownership. Mark added: “The combination of Rapid Racking and Manutan International will create a very strong player in the European storage solution market with greater opportunities for both companies.”

John Wood from TLT commented: "It was great to work with the shareholders and help move a successful business to the next stage of its development, showing that, despite talk of a slow down, the mid-market remains as buoyant as ever".

Trefor Griffith, director at Grant Thornton in Bristol, who worked on the deal along with Sarah Sansom, and Diana Gerry from Grant Thornton added, “It’s been a pleasure to work alongside Helen and the team throughout the whole process from identifying suitable purchasers to negotiating the best deal for the shareholders. The company is now in a fantastic position to capitalise on Manutan's presence in 20 European countries as well as its highly diversified customer base.”

TLT was recently named Corporate Law Firm of the Year in the 2007 South West Deal Awards. TLT's 20-strong specialist corporate finance team, which includes independently-recognised experts, advises FTSE listed companies and other leading national and international organisations.