£6m MBO at fast-growing transport provider
A management buyout has been completed by transport solutions provider Logik Logistics International.
The deal values the company at £6m and sets it up to double in size over the next three years.
The company provides time-critical transport solutions to the automotive, aerospace and retail industries, including JLR, BMW, Aston Martin and Amazon.
Leading the MBO team is current CEO, Dave York, who thanked the firms former owner Peter Ackrill for leaving the business in a “very strong position”.
He said: “During the last few years it has grown from strength-to-strength as customers turn to Logik with challenges created by Brexit, Covid and production disruptions.
“This deal beckons a new era for us to take advantage of the market growth based on our outstanding service and dedication to our customers”
Backing York and his team are Frontier Development Capital (FDC) and Debrett’s Private Equity (DPE).
Darryl Eales, Chairman and investor at DPE said Logik, “exemplify the nimbleness and rapid reaction necessary to meet customers’ requirements and tight timescales in this supply chain critical activity and I believe they will use
this outstanding platform to drive exceptional further growth over the next three to five years”
The MBO team was advised by Debrett’s Private Finance, Browne Jacobson nd Randall & Payne.
FDC was advised by Gately and Azets. The vendor, Peter Ackrill was advised by HB&O and Thursfields Solicitors.