Northgate and Redde shareholders approve merger

Thu, 16 Jan 2020 | MERGER

The proposed merger of listed companies Northgate and Redde has been approved by the two companies’ respective shareholders. The proposed merger was first mooted in November 2019.

Northgate is a hire business for light commercial vehicles, operating in the UK, Ireland and Spain. UK-based Redde provides accident and incident management and legal services for motorists.

The resolutions regarding the merger were put forward at the two companies’ general meetings. Shareholders agreed to back a name change, the adoption of the Northgate Value Creation Plan, as well as an amended directors’ remuneration policy.

Once completed, the merger will see the incorporation of a new entity: Redde Northgate. The Redde Northgate board will include non-executive directors from both firms.

John Davies, interim non-executive chairman of Redde, said: "Redde's board is pleased that shareholders of both Redde and Northgate today approved the proposed merger of the two companies.”

"Completion of the proposed merger remains subject to regulatory approvals and a final court hearing but is still expected to take place in the first quarter of 2020."

For the year ending June 2019, Northgate generated £589.7 million in revenue, with earnings before interest and £49.6 million.

Charles Harman, James Robinson and Wendy Hohmann of JP Morgan acted as financial advisers to Redde. Giles Balleny and Nick Wells of Cenkos Securities acted as Redde’s nominated advisor and joint broker.

Share this article

Latest Businesses for Sale

Car Garage
Maidstone, Kent, South East, UK

The company was Established in 1982, providing an honest and reliable service at all times, and is proud to be recognised as a highly reputable Car Garage in Maidstone. Providing car servicing to all makes and models of vehicles such as: Dent removal...

Asking Price: £259,950
Turnover: £464,306


Freight Forwarder & Importer of Niche FMPG
Heathrow, London, UK

An impressive opportunity has arisen to acquire a well-established, highly profitable Heathrow UK-based importer and distributor of Fast Moving Perishable Goods, supplying a niche market. 20 years of trading history. Exclusive UK distribution rights....

Asking Price: Offers Invited
Turnover: £6,978,000

Domestic & Commercial Contract Cleaning
Devon, UK Wide

Leading independent domestic and commercial contract cleaners, also undertaking some laundry services, operating throughout Exeter, East Devon, Devon/Dorset borders and surrounding areas. Operating from centrally positioned easily accessible premises...

Asking Price: £149,950
Turnover: £370,186


View more businesses for sale

News Search

Latest News


Frankie & Benny’s owner to permanently close 120 restaurants | BUSINESS NEWS

The Restaurant Group, which owns chains including Frankie & ...


28 Oddbins stores saved after acquisition by unnamed buyer | BUSINESS SALE

28 Oddbins stores will remain open after the off-licence ret...


Topps Tiles agrees sale and leaseback of HQ and warehouses | COMMERCIAL PROPERTY

Tile retailer Topps Tiles has agreed the £18.1 million...

Free guide: 10 Biggest Buyer Mistakes

Sign up to receive our acquisition alert emails to get your FREE guide


Related News



Northgate Managed Services (NMS) is up for sale with a numbe...

Want access to the latest businesses for sale?

Business Sale Report is your complete solution to finding great acquisition opportunities.

Join today to receive:

  • Comprehensive range of businesses for sale
  • Make direct contact with business sellers or their intermediaries
  • Access to all UK administrations, liquidations and winding-up petitions
  • Daily email alerts for the latest businesses for sale & distressed notifications
  • Business Sale Report publication posted to you every month
  • Advertise your acquisition requirements on our "business wanted" section

All this and much more, including the latest M&A news and exclusive resources