02.06.2004
Acquisition of Stanton Grove Ltd by Seacon Group Ltd
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We are pleased to announce that Stanton Grove Limited has become a member of the Seacon Group of companies, following its acquisition by Seacon Group Limited on 1st June 2004.
Stanton Grove has grown dramatically during the past couple of years with the addition of new terminals and ventures.
Jim Stewart, Chairman of Stanton Grove comments, “After enjoying 22 successful years in the business we felt the time had come to look for new partners to take the business onto the next stage of its development. We are delighted to have completed a deal with Seacon, a company well known to us with which we share similar aims and values. I have every confidence in the new management and am happy to give the new owners my full support.”
Following the acquisition, Jim Stewart and Alan Taylor (Managing Director) have resigned, and the new Board comprises James Roth as Chairman, Rob Stewart as Managing Director and Neil Stewart as Systems Director. Stanton Grove’s Head Office will remain in Liverpool.
James Roth, Director of Seacon, comments, “The Seacon Group is pleased to conclude the acquisition of Stanton Grove. This is a company that we have long respected and which has been able to establish a formidable presence in the market for handling forest products in the UK. Seacon aims to promote the Stanton Grove brand and to oversee the continued development of facilities throughout the UK. We believe that many of these terminals have the potential to blend in well with Seacon’s established short-sea operations. I am looking forward to working with Rob and Neil Stewart whom I will be joining on the Board of Stanton Grove as Chairman. Rob Stewart has been appointed Managing Director and will ensure continuity of service for Stanton Grove’s customers and partners.”
Seacon is the operator of the modern facilities of Tower Wharf at Northfleet in the Port of London and a fleet of river-sea ships. Seacon approaches its 50th year in business, specialising in the provision of through transport services to shippers of steel and paper from the continent to the UK. In 2001, a management buy-out of Seacon Holdings plc was completed and the company was taken private. The Roth family retains ownership and management control of the business.
For further information please contact; James Roth (+44 1474 320000), Rob Stewart (+44 151 944 4635) or Tim Lyle (City & Merchant Corporate Finance, +44 20 7329 7229)
