Melton shipping company buoyant after sale deal

One of TTS’ ships unloading timber at the company’s terminal in Hull docks.

TTS Shipping, which has its offices in Park Road, has been bought by the Navalis Group of Germany in a seven figure sale.

The business was formed in 1988 by four partners, Dougie Bryce, Bill Healey, Barrie Holt, Nick Burrows, and has seven staff in Melton and one at its timber terminal in the Port of Immingham.

Mr Bryce, director of the company, which transports sawn timber and in a normal year handles up to 15 per cent of the UK’s softwood imports, said: “I was the last remaining original partner, fast approaching my 70th birthday and so the sale to Navalis was the perfect way to secure the long-term future for the business, staff, clients and suppliers.”

Navalis is a renown contractor in ship building and repairs and the two firms have traded together for more than 20 years.

The sale was overseen by accountants and business advisors Beever and Struthers.

Mr Bryce added: “I’d like to thank Beever and Struthers for the amazing job they have done on our behalf. We were extremely fortunate to have partners like them ‘fighting our corner’ throughout the sale.”

Dean Curtis, corporate finance director of Beever and Struthers, said: “It’s been a pleasure to advise the shareholders of TTS Shipping.

“From the outset, it was clear that Navalis was a great fit for the business. We wish the team all the best for the future.”

Caroline Monk, executive partner of Beever and Struthers, added: “It has been an honour to work with Mr Bryce, developing the company, and building the structure within his team to allow this transaction to complete in a professional manner.”

“We look forward to continuing this excellent relationship through Navalis in the future”.

Legal advice for the sellers was provided by a team led by Peter Seary, corporate partner at Geldards with support from colleagues Caroline Findlay (Property) and Andrew Evans (Tax). Navalis was represented by Alex Kyriakoulis and Amy Gyngell of global law firm HFW.

Mr Seary said: “We have worked with Dougie Bryce and TTS Shipping for a very long time and were delighted to advise them on this transaction. The meshing of the two companies’ specialist shipping expertise and knowledge promises a bright future for the shipping sector.”