Private equity investor DBAY Advisors has offered to buy a controlling stake in Eddie Stobart Logistics (ESL). Under the terms of the proposal, DBAY would acquire a 51% stake, with existing shareholders having a 49% interest. It is also proposing an injection of approximately £55m of financing into the group’s operations to “be used to provide necessary liquidity.” In a Stock Exchange announcement, which was made in response to press speculation of a deal, the group said: “The Board of Eddie […]
Eddie Stobart Logistics saw its turnover and profit grow in its first full trading year under the majority ownership of private equity firm DouglasBay Capital, despite what it described as difficult trading conditions in its core markets.
Puro Ventures, which trades as Speedy Freight, has undergone a management buyout which sees its founders leave the business and Eddie Stobart holding company GreenWhiteStar Acquisitions (GWSA) sell its remaining 20% shareholding in the company.
UPS is to build a £120m package sorting and delivery facility at DP World’s London Gateway.