26 April 2017
NorthEdge Capital has invested in environmental and industrial services specialist Future Industrial Services (FIS), backing the management buy-out from its Irish listed parent company, One51 PLC, at an equity value of £16m.Find out more
The team at NorthEdge have been honest and direct throughout –they make decisions quickly and have delivered on everything that was promised
CEO, Abbey Logistics
Abbey Logistics is a niche logistics provider which specialises in the transportation of bulk liquid and powder across the UK and Northern Europe.
Headquartered in Liverpool, Abbey Logistics was set up over 25 years ago by the Lucy family, developing a market lading proposition in the liquid food ingredients transportation market, with more recent diversification into the bulk powder market. The company has demonstrated strong year-on-year growth over the past five years with turnover more than doubling following a number of acquisitions and large contract wins. The business operates from nine UK sites including Wirral, Hull, Manchester, Knowsley, Middlewich and London.
Abbey Logistics operates in the logistics and posts sector, which is worth around £55bn to the UK economy.
The funding will support the existing management team, led by Steve Granite, build its market presence in the UK and Europe through growth with new and existing customers
NorthEdge Director Jon Pickering led the transaction, with support from Investment Manager Dan Matkin and Portfolio Director Ben Wildsmith. Pickering said: “Abbey Logistics is led by an exceptional management team who has been with the business for more than 20 years. They fully understand the specialist logistics market they serve having carved out a high quality, nice proposition in bulk powders and liquids distribution. The company has demonstrated growth through a number of major contract wins and targeted acquisitions and this strategy will continue going forward as we target further expansion across the UK and Northern Europe.”
Steve Granite, Chief Executive at Abbey Logistics, said: “NorthEdge is the right partner for Abbey and we have been suitably impressed with the private equity firm since we first met earlier this year. Our customers and employees will see the benefit as having a new partner on board will enable us to develop our business and continue growing from solid foundations. Through organic and acquisitive growth, Abbey will become the market leader in both the liquid and powder transportation markets in the UK.”