Kent-based haulage firm C&H (Hauliers) Ltd, a subsidiary of The Charles Gee Group, has been sold out of administration, securing 180 jobs.
Logistics business C M Downton Ltd has taken possession of the business and accompanying assets of C&H with immediate effect.
C&H’s parent company, The Charles Gee Group, went into administration on 21 October, with Geoff Rowley, Phil Armstrong and Andrew Sheridan, partners at FRP Advisory, appointed as joint administrators.
Armstrong said: “We are delighted to have found a new home in C M Downton for the business of C&H, its staff and its array of loyal customers.
“For more than 50 years C&H has transported core parts to Britain’s manufacturing base and its services have been integral to their success – that continuity of service is now secured under new ownership.”
C M Downton has taken ownership of C&H depots in Essex, Norfolk, Suffolk, Kent and Oxfordshire, as well as a fleet of 130 tractor units and 250 trailers.
Andrew Downton, managing director of C M Downton, said: “The Downton Group has been looking to expand its business through either acquisition or mergers, and the C&H business was a perfect match.
“We both work in the same sectors – in particular with paper and publishing clients – and there are synergies for both businesses that made the deal a no-brainer.
“C&H is a fantastic business with a great heritage, which unfortunately had suffered through the cash flow difficulties of the holding company. To be able to save this business – and its staff – while driving forward our own business was too good an opportunity to turn down.”