A “quick and easy” sale of Prigmore Haulage Ltd, overseen by KBS Corporate, has been praised by the family of the company’s founders, who are now able to retire.
Started in 2000 as a sole tradership by Patricia Prigmore, the Wellingborough-based business has expanded from having a single van delivering hazardous loads for local customers to becoming a limited company with a fleet ranging from 7.5-tonne vehicles up to 44-tonne artics.
Patricia and Kenneth Prigmore have now had their retirement plans enabled by a partial share-sale to Explore Transport and Plant Hire, which is based in Worksop with depots around England, most of which are in the Midlands.
Katherine Prigmore, daughter-in-law of the founders and who joined the business in 2015, is staying on with her husband, Richard, following a transaction in which she praised the part played by Adam Nelson, KBS Corporate Deal Executive.
“The partial sale of Prigmore Haulage Ltd has allowed my in-laws to retire and my husband and myself to continue running the company,” said Katherine. “We have partnered up with a larger company with aspirations to continue to grow on a larger scale than we could have imagined.
“KBS have been honest throughout and there when we needed them. When the offer came through, Adam talked us through the whole process and ensured he had our best interests at heart. This allowed for a quick and easy sale which has taken two months from offer date to completion.
“We are very happy with their service in general from marketing through to sale, enabling Prigmore Haulage to go on and flourish and allow my in-laws to retire in the knowledge their legacy will continue.”
Adam Nelson added: “Prigmore Haulage stood out as it has a strong 20-years-plus history which has helped it to develop a great reputation.
“Through achieving a deal, Patricia and Kenneth Prigmore are now able to step back and retire, while Katherine and Richard can accelerate the business forward with the partial share-sale. I believe this has allowed the family to meet their expectations and move on to their next chapter.
“Explore Transport’s interest was discovered through KBS and we have achieved a very timely deal due to great efforts from all involved.
“I’m happy we have achieved the deal the Prigmore family were looking for and I’m excited to see how the business develops. I wish all parties the best of luck moving forward.”
Adam was also keen to praise the “excellent job” done in providing support and expertise on the deal by Adam Gilbert, Deni Slaveva and Harriet Woolley of AG Corporate Law.