Logistics firm sold to South African-based counterpart
Worcestershire logistics firm CBW Group Holdings, which trades as Amco, has been sold to Johannesburg Stock Exchange listed, South African-based global logistics and mobility specialist, Super Group.
Headquartered in Redditch, Amco is a transport and logistics business providing land, air, and sea logistics. The business was originally founded in 1983 and operates out of 11 UK locations with further hubs across Europe.
Amco’s management team will remain in place to continue to manage the business and deliver their growth strategy.
An advisory team at Evolve Corporate Finance, led by Justin Sparks, partner and co-founder, provided advice to Amco and its management team. Sparks was supported by David Lee, assistant director, and Doug Allan, manager.
Harrison Clark Rickerby’s (HCR) Birmingham office provided legal advice to the sellers, with the deal being led by Alison Scott, Partner, and supported by James McFarlane, Senior Associate, and Alex Stenson, Solicitor. Higgs LLP’s Birmingham office provided legal advice to the buyers, led by John Heaton, Partner.
Don Mucci, managing director at Amco, said: “Amco has experienced exceptional growth in recent years as we continue to provide leading solutions for our blue-chip customers across numerous sectors. We were looking for a strategic partner, who understood our business and who could add real value for our team, customers and business partners. We have certainly found that in Super Group and we are really excited about the next phase of Amco’s growth plans working in partnership together. The Evolve team fully understood our agenda and their experience that they brought to the deal was a key part of the ultimate success of the transaction.”
Sparks added: “We are delighted to have supported Amco and its management team on what is a key cross-border deal. Our industry experience, research capabilities and international network enabled us to find the best global partner with a strong cultural and strategic fit that complemented the business which was important to our client. The sale of a majority stake in the business to Super Group will help them further enhance their customer solutions and accelerate their growth plans. We look forward to seeing the Amco team continue their success story.”