Both Businesses Specialise In The Fashion And Luxury Goods Sectors
The banking team at Irwin Mitchell has advised Worldnet, a logistics firm catering to the fashion and luxury industries, on its acquisition of Italian firm, Delivery By Express (DBE).
Milan-based DBE is a domestic and cross-border logistics business which operates in the same sectors as Worldnet. It has been operating as Worldnet's service partner in Italy for several decades and its founder and CEO, Andres Pirri, will now be part of Worldnet International Italia.
DBE has operational facilities in Milan and Rome and will build on its current business model of offering highly customised, time sensitive and discrete express services to Italian and global fashion, couture, and luxury brands.
Akhil Sharma, a partner in Irwin Mitchell’s Banking & Finance team in London, advised Worldnet on the acquisition financing aspects of the deal. He was supported by colleagues Mark Appleby, Natalie Francis and Shanice Begum.
Expert Opinion“We are delighted to have had the opportunity to advise Worldnet on its significant acquisition and look forward to assisting further as its business continues to grow.” Akhil Sharma - Partner
Richard Bhullar, CEO of Worldnet, said: "Working against a very tight timeline and on international time zones, Akhil and his team at Irwin Mitchell were outstanding in their support on the acquisition of Delivery by Express (DBE). We could not be more thrilled to bring Andres and his team into the Worldnet family and we look forward to accelerating our strategy with this key Italian presence in the years to come.”
Rupert Rawcliffe, Ella Young and Ben Valentine for SRC Corporate Finance advised on the deal, as did Mathew Glentworth at RBS, and Azets (Dan Nixon).