Established in the early 1990s, The Prestige Group is a provider of global freight forwarding services. The business comprised two separate companies: one serving the European freight market, and the other a global client base.
The owners approached Avondale with the mandate to sell both of the Prestige Group companies. Given that there was a degree of overlap between the two sides of the business, Avondale and Prestige agreed that the best option would be to sell the companies as a single unit. The successful buyer would therefore require the capabilities to integrate two new businesses with an extensive international reach.
Avondale’s team undertook thorough research of the global transport and logistics market, putting in place an attractive positioning strategy for Prestige Group that would draw interest from high-calibre buyers. This created a competitive sales environment, which generated offers from several strong prospects.
A rival freight company, Trans Global South, was willing to pay a higher premium for the Prestige Group. With the opportunity to integrate Prestige’s operations into its existing premises it meant Trans Global was able to enjoy significant cost savings. The vendors were understandably pleased with the outcome of the negotiations, knowing that Prestige Group’s global client base would continue to be well served.