Travers Smith LLP has advised Phoenix Equity Partners ("Phoenix") and the senior management shareholders on their sale of Palletways Group Limited ("Palletways") to Imperial Holdings Limited ("Imperial") for a total transaction value of £163 million.

Palletways today operates the only integrated pan-European express pallet network, spanning 20 countries. Under Phoenix’s ownership, Palletways has expanded significantly through a series of greenfield investments and international acquisitions, growing from a UK-only position to a strong presence across the whole of the Continent. Palletways now delivers 8 million pallets annually across Europe, while profits have more than trebled over the last three years. Travers Smith has acted for Palletways since it was first acquired by Phoenix.

The Travers Smith team advising on the sale was led by private equity partner Edmund Reed, who was supported by private equity associates Alex Dixon and Lauren Causon. Specialist advice was provided by head of tax Kathleen Russ and tax associate Camilla Southall.

A separate Travers Smith team led by private equity partner Adam Orr, supported by private equity associates Jeremy Dennison and Katie McGarry, advised senior management of Palletways on their reinvestment.

Lazard (team led by Vasco Litchfield and Giles Corner) provided corporate finance advice to the sellers. Squire Patton Boggs (Richard Hunt) acted as legal adviser to Imperial.