Deal Background
Enza Motors have held the Mercedes-Benz commercial vehicles franchise for Manchester, Cheshire and North Stafford since they began operating in the 1970s.
Road Range, established in 1980, held the franchise for the Merseyside, Deeside and North Wales area.
The current joint Managing Directors of the Roanza group, Brian Kempson and Roy Reed, have previously been part of Management Buy-Outs of Road Range and Enza respectively.
How Langtons Helped
Langtons acted as lead advisors to the shareholders of Road Range, helping them to negotiate terms of the merger and raise the necessary finance to both complete the transaction, and provide working capital for the enlarged group, whilst also providing support throughout the entire legal process.
Results
The merger was completed successfully to create the new Roanza company, a £160m turnover group covering the whole of the North West of England and Wales.
Having worked with Langtons over a number of years for many different aspects of our business, including tax planning, commercial & strategic advice and compliance services we were pleased to work with Langton Corporate Finance during the Management Buy-Out of Road Range and subsequent merger with Enza Motors. They were professional and supportive throughout the processes providing extremely commercial and pragmatic advice in order to secure successful outcomes in both transactions. Since these transactions, Langtons have continued to provide the combined businesses with strategic and commercial support
Roanza – Mike Jones
