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 […]
More than 700 Co-operative Food Group drivers are being balloted for industrial action over a plan to transfer around 50 drivers in the Midlands to haulier Eddie Stobart this April.
Stobart Group reported an increase in turnover and profit in its transport and distribution unit in its final year as a fully-owned division of the business.
Eddie Stobart Logistics has successfully completed its transformation into a stand-alone business after the acquisition of a 51% stake in the operator by private equity firm DouglasBay Capital on 10 April 2014, according to its parent company.