Fri, 11 Jun 2021 | BUSINESS SALE
Menzies Distribution, which is backed by private equity firm Endless LLP, has announced the acquisition of Scottish logistics company JBT Distribution. The deal represents a second significant acquisition for Menzies in the last six months, following its takeover of Bibby Distribution (now rebranded as Menzies Distribution Solutions) in December 2020.
JBT Distribution provides distribution and warehousing solutions for a range of clients. The firm’s customers come from sectors including retail, parcel delivery and healthcare, with JBT being a specialist in temperature-controlled logistics.
The firm, which generates annual sales of over £23 million, is headquartered in West Lothian and has a strong presence throughout Scotland, with additional depots in Aberdeen, Inverness, Kilbride, Lerwick and Kirkwall.
The acquisition extends Menzies’ presence in Scotland via this network of depots and adds 200 vehicles to its fleet. The deal also grows the firm’s base of blue-chip customers and adds more capabilities to its range of B2B logistics solutions.
Menzies CEO Greg Michael commented: “We are gaining momentum at pace as we execute our ambitious strategy for growth and are delighted to acquire JBT. We believe that through combining the complementary business with Menzies, there are significant opportunities to grow both businesses through unlocking further geographical capability and expanding services to both sets of customers in Scotland and throughout the UK and Ireland.”
“For both our businesses’ customers, it will be very much business as usual and we look forward to supporting their growth in the coming years and working with Robert Gordon, Donald Carmichael and the rest of the team at JBT to help deliver this. We warmly welcome our new colleagues and look forward to the next phase of our journey as an enlarged group.”
JBT Director Robert Gordon added: “The Directors of JBT Distribution are delighted to announce the acquisition by Menzies Distribution. We believe that Menzies is aligned with the future strategic and growth plan in the sectors in which we operate and will enhance the service offering of the business both locally and nationally.”
Menzies has been backed by Endless since September 2018, when the private equity firm acquired the business for £74.5 million as part of its separation from John Menzies Plc.
Following the acquisition of JBT, Endless Partner Andrew Ross commented: “We are delighted to be supporting Menzies Distribution with their second acquisition in six months. This acquisition further accelerates the momentum in our strategy to transform and diversify the operations of this business.”
The acquisition comes at a time of renewed optimism in the UK’s logistics sector, driven by the success of the COVID-19 vaccine rollout and economic reopening. This, in turn, has resulted in strong appetite for dealmaking among leaders in the logistics industry.
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