Freight specialist sold to Latin American buyer

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Tamworth-based Cargo Marketing Services, a provider of freight services to the UK forwarding industry, has been snapped up by a Latin American company.

BDO’s Midlands corporate finance team acted as M&A adviser to CMS, which has been acquired by MSL Corporate, Latin America’s leading Non Vessel Operating Common Carrier (NVOCC).

Founded in 1982, CMS is the UK’s leading NVOCC, providing a range of freight services – from small consignments to full containers, out of gauge cargo, import or export, port-to-port or door-to-door.

The company facilitates import/export to/from destinations all over the world, with particular emphasis on North America and the Far-East.

The acquisition will allow CMS to offer its clients better access to and expertise in the South American, Caribbean and North American shipping routes.

Mick Frearson, managing director, CMS, added: “We are excited to have sold CMS to a perfect partner in MSL Corporate. The combination of the two companies will allow MSL Corporate to enter the important UK market and affords CMS unrivalled experience in the Americas.”

The BDO team, which presented the business for sale and negotiated the deal, was led by Roger Buckley and Graeme Gladstone, with support from Gurpreet Poonia.

Buckley said: “We’re delighted to have advised the shareholders of CMS on this cross-border sale. The acquisition of CMS will allow MSL Corporate to establish a UK presence that will enable them and CMS to go from strength-to-strength.

“CMS is a longstanding and highly regarded player in the regional and global marketplace, with an enviable international client base. This transaction further reinforces BDO’s credentials in the logistics and supply chain sector and is an excellent example of our cross-border capability.”