Ashurst advised private equity investor EmergeVest on the acquisition of CM Downton, one of the UK's leading logistics groups, for a total consideration of £75 million.

EmergeVest has acquired the entire shareholding from the Downton family and will provide additional capital to finance the Company's growth. The Downton family will continue to serve in their respective roles as senior management of the Company.

This investment marks EmergeVest's seventh acquisition in the UK logistics sector since being formed in 2013. EmergeVest's current UK portfolio includes Adjuno, Allport Cargo Services, NFT Distribution, NR Evans and Palletforce.

Established in 1955 and headquartered in Gloucestershire, Downton generates annual revenue of c.£120 million, and operates 600 tractor units and 1,800 trailers. It employs 1,350 people and has depots at Quedgeley, Shepton Mallet, Chepstow, Sharpness, Hardwicke, Tuffley, Runcorn, Manchester, Dunstable, Leeds, Chatham and Tilbury.

The Ashurst team was led by corporate partner David Carter, assisted by associates Jacob Gold, Jack Mendelssohn and Jake Hadfield. Banking advice was provided by partner Paul Stewart, assisted by associates Sarah Curry and Dhruv Kaushal. Partner Ruth Buchanan advised on employment matters, assisted by associate Emma Finn. Counsel Eleanor Reeves advised on environmental and health & safety matters, assisted by associate Joanna Fox. Senior associates Rudi Hakiman and Anisha D'Cruz advised on real estate matters, with assistance from associate Dipika Kachhala. Partner Alexander Cox and associate Rebecca Kell advised on tax matters, and associate Liz Ramsaran provided pensions advice.