Equity firm ACC Capital has bought a majority stake in Lubbers Transport Group as part of a management buy-out at the firm.
The deal sees the management team at Lubbers, which is lead by CEO Ger Englsman, invest alongside ACC, with the existing shareholders (Ronald Lubbers and UK MD Tony Tailford) retaining a minority interest in the business.
Lubbers specialises in serving the oil and gas industry in Europe, and in 2005 Lubbers of the Netherlands merged with RTH in the UK.
The company currently has 120 trucks and nearly 300 trailers, employing 270 people in 11 locations across Europe. It has joint headquarters in Schoonebeek in the Netherlands and Newcastle.
Engelsman said: “Our ambition is to further establish our market leading position in the upstream oil and gas transport and logistics services.
“Our strategy is to accelerate our international growth by following our customers to emerging oil and as regions and opening up new bases. We have been looking for a professional partner to help us realise this strategy and have chosen AAC."
Lubbers saw its turnover climb 28% in 2012.
- Lubbers has also revealed plans to double the size of its Aberdeen site, having spent £1.2m to acquire land adjacent to its premises in Peterseat Drive. The enlarged facility will house more trucks and allow it to process more cargo, at what is already its main operational hub in the UK. It will also be looking to recruit more drivers to add to its 86-strong UK staff.
