Global, sector-focused law firm HFW has continued its run of M&A deals, advising The Pallet Network (TPN) on its £52.8 million sale to Eddie Stobart Logistics plc by mid-market private equity firm LDC.

TPN is the UK's leading provider of pallet distribution services. LDC backed the original management buyout of TPN in 2007, before reinvesting in the business in 2016. TPN's revenue has more than trebled since LDC's original investment.

HFW advised TPN on the regulatory and commercial aspects of the deal. The firm's team included partners Craig Neame and Richard Spiller, senior associate William Reddie and associate Ellie Kirby.

National law firm Browne Jacobson advised LDC, which is part of the Lloyds Banking Group.

The deal follows HFW's advice to private equity firm Livingbridge on the management buyout of one of the UK's leading independent insurance brokers, Coversure Insurance Services Group.

The firm also recently advised the sellers of a majority stake in Miles Smith Insurance Group to private equity firm Pollen Street Capital, Coverys on its acquisition of R&Q Managing Agency, and MGA Sciemus on an investment by Hudson Structured Capital Management. The team also acted on the acquisitions of CORGI Homeplan and CETA Insurance.