Springboard helps Carousel on merger merry-go-round

Birmingham corporate finance firm, Springboard has advised on a merger deal in the European logistics sector.

An investee company of Livingbridge, Carousel is a leading personalised logistics supplier with operations in the Midlands and Kent.

The business, which designs and manages bespoke logistics solutions for blue chip clients with customised specialist or high touch customer care requirements, has merged with LSi, which provides similar services to Carousel and operates in Germany, Spain, Portugal and Switzerland.

Springboard partner Simon Ward and manager Matthew Guest advised Carousel on the merger.

Mr Ward said: “We have been supporting Carousel for some time in finding the right European partner. We are delighted to have completed the merger with LSi. The strategic and cultural fit between the businesses is outstanding.”

Graham Martin, CEO at Carousel said “This announcement is the perfect coming together of two companies and one that is incredibly timely given the recent changes to the European landscape.

“As individual companies, we each offer personalised solutions. With such synergies, it seemed only natural that the two companies should become one. This merger is all about offering our clients even better solutions and more opportunities than ever before.”

He said the deal had been a complex one and marked the company’s first transaction of its kind in Europe. Therefore, the advice it received had been critical to the deal’s success.

Springboard, based in Waterloo Street, provided support and counsel as well as raising debt finance to support the deal.