A Newcastle business man has credited the guidance of a UK law firm in helping him to sell his small business, a mobile phone firm, for an impressive £3.6 million.
When Ian Gillespie, majority shareholder of Fone Logistics, sold his company recently it was with the assistance of Muckle LLP law firm – a company he first contacted when he was setting up his small business 15 years ago.
Fone Logistics supplies mobile handsets and airtime to more than 600 dealers, including 02, Vodafone and Orange. Their market mainly consists of small and medium-sized businesses. As part of the sale, a section of the business which relates to Network 3 was transferred to another of Ian Gillespie’s companies.
The sale of the shop has helped to ensure a record quarter for the legal eagles. They had also acted on 24 other transactions with an aggregate value in excess of £325 million.
“The telecoms market is getting more and more competitive and is ripe for consolidation,” Gillespie said.
“Muckle has advised us on everything we’ve been through and have been excellent to do business with. Post acquisition of Fone Logistics, I plan to spend more time with my family, but will also be working on my new business interest,” he added 
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