Keystone Law has advised the independent logistics firm Hemisphere Freight Services (HFS) on its acquisition of Magnus Group’s warehousing and freight-forwarding elements, following the Group’s intention to appoint administrators.
The acquisition will ensure all 25 associated operational staff of Magnus Group will retain their jobs, and HFS will also take over c200,000 sq ft of warehousing space at the Group’s Great Blakenham facility.
HFS is preparing to open a new multi-million-pound warehouse on the Suffolk Port One Logistics Park development by Q1 2024 and will move the business to the new site upon completion.
Keystone Law’s employment partner Kelly Sayers and corporate partner James Wilkinson led the team advising on the deal, which included commercial property partner Samantha Leigh, employment partner Rachel Flynn, and insolvency and restructuring partner Cory Bebb.
Andy Perrin, Hemisphere Freight Services’ Managing Director, said:
“We are incredibly excited to be able to welcome the new team members to the Hemisphere family and to strengthen the exceptional service we’ve always offered our clients.
“We are extremely grateful to Keystone Law for the practical and professional support the team provided, making the acquisition as seamless as possible.”
Kelly Sayers said:
“I was delighted to have helped secure the purchase of a highly regarded logistics service and allow 25 people to keep their jobs. I look forward to seeing how HFS prospers globally with the additional resources.”
James Wilkinson added:
“It was a pleasure to assist on this challenging but rewarding acquisition that will not only see the retention of jobs but also the growth of HFS’s presence in the region and further afield.”