Leading logistics firm acquired by PE-backed business
Liverpool-based Bibby Distribution has been acquired by Menzies Distribution, which is a portfolio company of Endless – the firm which recently acquired Hovis in a £37m deal.
Bibby Distribution has been acquired, for an undisclosed sum, from Liverpool headquartered parent Bibby Line Group, and is one of the UK’s largest logistics platforms with annual sales of more than £150m and a fleet in excess of 1,800 vehicles and trailers operating out of 38 sites.
The acquisition is said to “further add to Menzies Distribution’s geographical reach in the UK and its expanding blue-chip customer base”.
The deal also provides further capability to add to London-based Menzies’ growing range of B2B retail logistics services.
John Cresswell, chief executive of Bibby Line Group, said: “Bibby Distribution has built its reputation as a high quality, safe and reliable logistics provider, and since the company was established in 1985, we have seen it grow from strength to strength.
“This strategic realignment of our portfolio represents a strengthening of the group balance sheet for future investment.”
He added: “I want to thank all our BDL colleagues for their hard work and successes, and the value they have added to customers and our group and we wish them well under new ownership.”
Greg Michael, CEO of Menzies Distribution, said: “We are delighted to acquire Bibby Distribution.
“We believe that through combining the complementary business with Menzies, there are significant opportunities to grow both businesses through unlocking further geographical capability and expanding services to both sets of customers.
“For both our businesses’ customers, it will be very much business as usual and we look forward to supporting their growth in the coming years and working with the team at Bibby Distribution to help deliver this.”
Andrew Ross, partner at Endless LLP, said: “We are delighted to be supporting Menzies Distribution with their first acquisition under our ownership.
“This acquisition supports our medium-term strategy to further transform and diversify the operations of this business.
“Over the two years since our investment, the business has continued to go from strength-to-strength thanks to the hard work of the entire Menzies team and this acquisition will take it to over £1.2bn in turnover.”
Menzies Distribution was advised by Walker Morris (Legal), PWC (Tax), PWC Consulting (Strategy), Fox Lloyd Jones (Property), and Marsh (Insurance). Bibby Line Group was advised by Arrowpoint Advisory (CF), KPMG (Vendor Financial Due Diligence) and EY (Legal).