Logistics provider snapped up by Danish group
Debrett’s and Frontier Development Capital (FDC) have exited Logik Logistics after backing the firm in a management buyout deal.
Logik which provides transport solutions to the automotive, aerospace and retail industries, including JLR, BMW, Aston Martin and Amazon, has been acquired by Danish logistics firm, Danx Carousel.
Coventry-based Logik was initially valued at £6m when the MBO was completed in 2022. The exit has now generated a 5.6x money multiple return for Debrett’s and a similarly successful result for FDC.
CEO of Logik David York will remain with the business and continue to drive it forward within the Danx Carousel group.
The deal was led by James England, Tom Eastwood and Harveer Gill (Debrett’s).
David York said: “When searching for investors for the MBO, I wanted to find the capital and support required to take full advantage of the opportunity we had. Its been amazing to work with Debrett’s and FDC over the last two years and I am delighted to repay the trust they placed in me. I now look forward to continuing to grow the business within the Danx Carousel family.”
Lars Ryssel, managing director of Western Europe for DANX Carousel added: “This acquisition not only expands our time-critical logistics capabilities but also strengthens our on-demand / ad-hoc service platform, enabling us to better serve our customers’ needs.”
Darryl Eales, Chair of Debrett’s and outgoing Chair of Logik commented: “It has been a huge pleasure to work alongside Dave & the team over the last couple of years and immensely rewarding to have seen the development of the business over this period. I wish Dave, Logik and Danx Carousel the best of luck for the future”.
The Logik shareholders were advised by Debrett’s Advisory, Browne Jacobson (Roger Birchall and Clare Hanna) and MDP (Arran Jones). FDC was led by Charlie Robinson throughout the investment and was advised by Gateley plc (Chris Jones).
DANX Carousel was advised by Mills & Reeve (Tom Shorten and Jodi Oosthuizen) and KPMG (Richard Aston).
