The Manchester-based corporate practice at Cobbetts LLP has advised the shareholders of one of the largest materials handling companies in the UK, Carrylift Group on its acquisition by investment group, CorpAcq.

Skelmersdale-based Carrylift, founded 22 years ago, has seven depots throughout the UK, and has established a strong reputation for its holistic approach to clients’ materials handling requirements. Following the transaction, Carrylift’s senior management team will remain with the company, as with previous CorpAcq buyouts.

The deal, which was structured and led by TMG Corporate Finance alongside Gary Black, CorpAcq’s legal director, sees the investment group take a controlling interest in Carrylift and marks its seventh investment.

A £8.8 million acquisition finance and ongoing working capital facility was provided by KBC Business Capital to fund the deal.

Cobbetts provided legal advice to Carrylift’s shareholders, the Routledge family. Corporate partner, Ian Riggs, led the deal team for the firm, supported by associate, Vicky Zivkovic and solicitors, Sinead Ormerod and Brian Ghatan.

Ian Riggs said: “Carrylift is a great business with a strong management team, which is a good fit for CorpAcq’s current portfolio. With the group’s support, Carrylift is in a position to further improve its strong position in the materials handling market.”