E&Y helps Eddie Stobart with merger plans

Advisors from the Manchester office of Ernst & Young have helped haulage
business Eddie Stobart in coming to
its decision to merge with
Westbury Property Fund in a
£138m deal.

The team, led by partner Simon Oldfield and director Richard Harding of the
Manchester office, carried out vendor due diligence for Eddie Stobart then acted
as reporting accountants for Westbury.

Simon Oldfield said: ‘We were involved in helping Andrew Tinkler and William
Stobart acquire Eddie Stobart in 2004 and have been very impressed with the
progress they have made in improving the business since then.

‘This latest chapter of development adds a new dimension in that it brings
together two companies which will see huge commercial and environmental benefits
in combining road haulage and storage with rail freight and waterborne transport
systems, thereby offering customers a truly integrated transport and logistics
solution.’

The deal which will create a transport and logistics business with rail, road
and port activities with net assets of over £250m

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