The Westbury Property Fund has acquired logistics group Eddie Stobart for £138 million and O’Connor Group for £24 million and at the same time has sold its wholly owned property investment company for £150 million.
The Westbury Property Fund has acquired logistics group Eddie Stobart for £138 million and O’Connor Group for £24 million and at the same time has sold its wholly owned property investment company for £150 million.
The enlarged group will be a fully integrated asset-backed logistics company with net assets of more than £250 million and will be renamed Stobart Group, with Eddie Stobart’s current owners, Andrew Tinkler and William Stobart, joining the enlarged group.
Tinkler and Stobart will hold 28.5% of Westbury. The team from Addleshaw Goddard, led by Philip Goodstone, provided legal advice to Westbury.
The team included Louise Porter, Mike Potter, Jo Saunders, Helen Murdoch, and Gill Crennel in corporate, Justine Delroy and Mark Roe in tax, Paul Conroy and Katherine Steel leading the real estate team and Richard Chandler and Tim McNamara led the banking.
