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Freight Accompli

West Indies FreightWest Indies Freight Limited, the British based freight forwarder operating in the Caribbean, has recently been sold for an undisclosed sum in a deal negotiated by Corporate Finance Advisers, Watersheds.

West Indies Freight has been trading since 1972 and was acquired in 2004 by Anthony Loudon. Mr Loudon came to Watersheds to consider his exit options. He wanted to step back from a day-to-day role but was happy to be involved in the overarching strategy going forward. He wanted a quick deal.

With this in mind, Mr Loudon and Watersheds worked together negotiating with a number of parties. Once the appropriate acquirer had been identified, it was clear the way the deal was structured was going to be crucial in allowing Watersheds' client to detach himself from the operational side of the business whilst still allowing him to share in the upside the new acquirer intended to induce. It was also critical to ensure that the benefit arising from this strategy could be received in a tax efficient way.

The deal was undertaken in the best possible spirit leading to a satisfactory and quick conclusion for Anthony Loudon and Philip Jackson, who becomes a new shareholder. Philip's other business interests gave him a strong strategic reason to become involved in West Indies Freight. Completion occurred eight days after the first meeting between Mr Jackson and Watersheds, reflecting Mr Loudon's instructions.

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