BKL completes acquisition of removals and relocations business
Chartered accountants and advisers BKL have completed the acquisition of Abels Moving Services and Gerson Relocation by Momentous Relocation, combining the strength of three leading moving and relocation brands.
Momentous Relocation, owned by Paul Evans, is a leader in international moving, relocation, commercial distribution and the movement of fine arts. Over the last two years, the company has more than trebled in revenue.
Under the Royal Warrant “By Appointment to Her Majesty the Queen”, Abels Moving Services is a highly acclaimed specialist in residential and international moving services and is also a leader in commercial moving and new furniture distribution. Gerson Relocation has been synonymous with delivering unrivalled quality moving and relocation services to corporate clients since 1961, which led to the company becoming the very first relocation recipient of the “Queen’s Award for Export” and being selected to move Margaret Thatcher both into and out of 10 Downing Street.
Daniel Shear, corporate finance partner at BKL, commented: “Working closely with Paul Evans, Lawrence McGreal and their team, together with his legal advisers, Chadbourne & Parke, we are delighted that the deal completed within very tight time scales. For commercial reasons a deadline had to be met, and we provided financial and taxation advice to Momentous Relocation, and complete financial due diligence on Abels Moving Services and Gerson Relocation, by the deadline. The acquisition ensures an exciting future of the new group, given the enormous strengths and reputation of the three brands and their combined experience.”
Paul Evans also expressed his delight at completing the deal, commenting: “I am extremely grateful to Daniel and the team at BKL for all their help in advising us throughout the transaction. I have a long-standing relationship with BKL and I would certainly engage the services of Daniel and his team on any future corporate transaction.”
For further information, please contact:
Daniel Shear, Partner
+44 (0)20 8922 9321