Sheffield advisors Shorts Chartered Accountants has teamed up with hlw Keeble Hawson to act as lead advisors and legal representatives to F1 logistics specialists, Delivered on Time Limited, on its sale to Global logistics business DHL, for an undisclosed sum.
DHL is a global business forming part of the DPDHL Group, with revenues of 60 Billion Euros. The acquisition will build on DHL’s existing offering, providing market leading logistics to high end motoring and motorsport events, including F1 and Gumball Rally.
Paul Fowler, shareholder and managing director of Delivered on Time Limited, will stay on as Head of Motorsport for DHL as part of the deal and will be responsible for the combined business.
Andy Ryder, corporate finance partner with Shorts and lead advisor on the transaction, said: “We are delighted to have advised Paul on the successful completion of the sale to DHL. This was a complex transaction which required key support on tax (David Robinson) as well as corporate finance (Adam Ames). We look forward to seeing Paul continue to grow the business as part of DHL.”
Matt Ainsworth, partner of hlw Keeble Hawson, said: “Delivered on Time has built a strong track record as F1 logistics specialists. This milestone development provides enormous potential for the business to achieve its growth vision as part of DHL. We wish Paul and the team continued success.”
Paul Fowler added: “I will continue to manage the business and as far as existing clients are concerned, it will be business as usual. I am excited for the next phase of what promises to be an exciting period for the company.”