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MBO rescue for All Ways
Page 12
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A racing car transporter has been
saved by a management buy-out.
Jennifer Ball reports.
SPECIALIST freight forwarding and racing car transport firm All Ways Forward, which went into administration in April, has been sold to its senior staff in a management buyout.
The business was bought from administrators Grant Thornton for an undisclosed sum.
The Cheltenham-based firm runs a fleet of 20 trucks, as well as freight forwarding and warehousing operations. It specialises in the movement of equipment for racing cars including for the World Rally Championship and Formula One teams — clients include Renault and Williams (CM 4 December 2003).
Operations director Steve White says: "We bought all the assets and goodwill after the company went into administration due to cash implications. We have had to make three or four people redundant from the new company, Berlin Project Limited, but we will continue to trade as normal."