Kreston Reeves advises on GCL acquisition

Kreston Reeves has advised Global Critical Logistics (GCL) on the group’s acquisition of Classic Automotive Relocation Services (CARS).

Kreston Reeves provided financial due diligence, tax due diligence and structuring advice to support the transaction, which comprised the three separate acquisitions of the discrete elements which make up CARS’ global operations.

CARS, which is headquartered in the UK and has offices in the USA, UAE, Netherlands and Japan, is a road, air and sea freight shipment of historic, rare and prestigious vehicles to destinations around the world, guiding them through the complexities of freight documentation and customs brokerage to car shows, exhibitions, trade shows, motoring events and rallies. 

The group operates a network of specialist storage facilities and offers services including international transportation, motorsport logistics, customs brokerage, vehicle storage, Carnet de Passages and various OEM testing options.

GCL is backed by ATL Partners, a premier sector-focused private equity firm based in New York that invests in aerospace, transportation and logistics. GCL is the holding company for a family of brands that include Rock-it Global, Dietl, Cosdel, CargoLive, Dynamic International, GCL Jets, and CARS. 

With 39 owned offices in 14 countries, GCL provides mission-critical logistics for worldwide operations serving the live events, fine art, classic and high-value automobiles, film, television, broadcast, sports and motor sports industries. 

The Kreston Reeves team was led by corporate finance partner Jack Clipsham and corporate tax partner Laurence Parry. They were supported by director James Reed-Sperrin, senior managers Jeremy Marshall and Mohammed Mujtaba, and corporate finance analyst Brandon McBride.

Clipsham said: “The classic vehicle and motor sports markets remain strong, attracting considerable interest around the world. Kreston Reeves brings an experienced and strong team to complex and multi-jurisdiction corporate finance deals, and it was a privilege to advise GCL on this important acquisition.”

Paul Martins, president and CEO of GCL, said: “This acquisition extends the GCL group’s service offering and proven operational capabilities across key strategic growth markets, both in terms of customer industries and geographic presence. Kreston Reeves provides great service and support to all the companies that make up GCL – it is a great team effort.”