Birketts has advised the shareholders of logistics group Torque on its sale to H.I.G. Capital, a leading global alternative investment firm with $75 billion of capital under management. The transaction marks an important milestone in Torque’s continued growth and development.
Torque is a leading provider of omni-channel fulfilment and supply chain services to a diversified base of premium and high-growth consumer brands. The business offers warehousing and fulfilment, inventory and returns management, and international freight forwarding services, supporting customers across eCommerce, retail and wholesale channels.
The acquisition by H.I.G. will support Torque’s next phase of growth as the business continues to expand its service offering, increase capacity and develop its international fulfilment capabilities.
Stewart Firth, CEO of Torque, commented: “This transaction represents an exciting new chapter for Torque. 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 was led by corporate partner and head of the firm’s transport and logistics sector group Matthew Stratton, alongside fellow corporate partners Salim Somjee and Adrian Seagers. The wider corporate team included Macauley Alsford-White, Harry Close, Grace Shek and Will May. Also assisting were Karl Pocock, Robbie Watson (corporate tax), Gavin Birchall (personal tax), Amanda Early and Jennifer Bubbra (commercial real estate), Sarah Bull and Katie Garcia (employment) and Anthony Metcalfe-Gibson (incentives).
Matthew Stratton, Partner at Birketts, added: “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. Under the leadership of Stewart and the wider management team, Torque has established itself as a highly respected provider of fulfilment and logistics services, supported by strong customer relationships and a proven track record of growth. We wish all those involved every success as they embark on this next stage of the Torque journey.”
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