Leading law firm advises on major postal delivery deal
Leading SW law firm advises on major postal delivery deal
A leading South West law firm has advised on a major deal to create the fourth largest postal delivery company in the UK.
Stephens Scown LLP’s corporate team acted for Steve Stokes in his management buy-out of CMS Network (UK) Limited. CMS offers clients a complete mailroom outsourcing solution and has major clients including Morgan Stanley, Deutsche Bank, The Guardian and Warner Music.
Through the management buy-out, CMS has been combined with the much larger downstream access operator, Secured Mail to create The Delivery Group. The Delivery Group will have a turnover in the region of £130 million, an employee base nearing 300 staff and operate from three major locations in Central London, Luton and Warrington. The Group becomes the fourth largest postal delivery company in the UK, after the Royal Mail, TNT and UK Mail.
Commenting on the deal, James Keliher, head of the corporate team at Stephens Scown LLP in Exeter said: “This was a very complex deal, taking several months to come together. It is fantastic to be acting on deals like this – proving once again, that some of the best legal expertise in the country can be found in the South West.”
“My company and I have utilised James Keliher and Stephens Scown since 2003. I have always found James to be knowledgeable, responsive, and very personable which is extremely important when working on protracted intricate deals,” said Steve Stokes, managing director of CMS.
He continued: “Over the years they have always provided us with the very best of service and as a result we now deal with them in every area of their legal expertise from HR to acquisitions.”
Steve Stokes received backing for his management buy-out from private equity fund manager Next Wave Partners LLP.
Stephens Scown’s corporate team has increased its workload by 30 per cent in the last year. The head of the team, James Keliher has been recognised as a leader in his field by independent legal guide Chambers.
Stephens Scown has over 270 staff, including more than 50 partners, across its offices in Exeter, Truro and St Austell. For more information visit www.stephens-scown.co.uk
