Eddie Stobart Logistics (ESL) has been saved from the threat of administration after shareholders voted to accept a takeover bid by private equity firm DBAY Advisors. DBAY will take control of ESL’s assets in a £75m bailout backed by William Stobart, fourth child of its founder Eddie, in a deal that gives it an eleventh-hour reprieve following reports that accountancy firm Deloitte had been lined up to prepare it for insolvency. The deal, which sees DBAY take a 51% stake […]
Eddie Stobart Logistics – set to float on the Alternative Investment Market (AIM) next week 25 April – has conditionally agreed to acquire multi-channel retail logistics management group iForce for £45m.
Eddie Stobart Logistics is in talks with an unnamed company to acquire it in a deal valued at around £50m
Stobart Group has said the integration of Autologic into its Eddie Stobart division has been “seamless” with all assets and key personnel retained. Autologic was bought by Stobart in August, after an initial bid – valuing the company at £12.4m – was made for the company in June. The acquisition adds £144.7m of annual turnover and £2.1m of pre-tax profit to Eddie Stobart’s £519.5m of turnover and £27.4m of pre-tax profit. New deputy chief executive at Stobart Group, and former […]