Birketts advises shareholders on Torque sale

Birketts has recently advised the shareholders of logistics group Torque on its acquisition by H.I.G. Capital, a prominent global alternative investment firm managing $75 billion in capital. This transaction represents a vital step forward in Torque’s ongoing growth strategy. As a leading provider of omni-channel fulfilment and supply chain services, Torque caters to a wide array of premium and high-growth consumer brands. Through its extensive offerings, which include warehousing and fulfilment, inventory and returns management, and international freight forwarding services, Torque supports customers across various sectors, including eCommerce, retail, and wholesale.

The acquisition by H.I.G. Capital will facilitate Torque's next phase of growth, enabling the business to enhance its service offerings, boost capacity, and expand its international fulfilment capabilities. Stewart Firth, CEO of Torque, expressed his enthusiasm regarding the transaction, stating “This transaction represents an exciting new chapter for Torque." He continues, "Over more than three decades, we have built a business centred on exceptional customer service, operational excellence and long-term partnerships. H.I.G.’s investment provides the resources, expertise and international reach to support our next phase of growth, while preserving the culture and values that have underpinned our success. We are excited about the opportunities ahead for our customers, our people and the business as a whole.”

The Birketts' team that facilitated this significant transaction was led by Matthew Stratton, the corporate partner and head of the firm's transport and logistics sector group. He was supported by fellow corporate partners Salim Somjee and Adrian Seagers, along with a wider team consisting of Macauley Alsford-White, Harry Close, Grace Shek, and Will May. Additional contributions came from corporate tax experts Karl Pocock and Robbie Watson, personal tax consultant Gavin Birchall, commercial real estate specialists Amanda Early and Jennifer Bubbra, as well as employment professionals Sarah Bull and Katie Garcia, and incentives expert Anthony Metcalfe-Gibson.

Matthew Stratton remarked on the success of the transport and logistics sector group, stating “Our transport and logistics sector group continues to go from strength to strength. Working alongside PWC, we are delighted and honoured to have helped the shareholders of Torque reach such a significant milestone.” He further acknowledged the outstanding leadership of Stewart and the management team, highlighting Torque’s reputation for excellence in fulfilment and logistics services, underpinned by robust customer relationships and a solid growth track record. Stratton concluded by wishing all parties involved success as they proceed into this new chapter of Torque’s journey.