Logistics group EV Cargo is mulling a £1bn London stock market flotation in a bid to raise funds to buy more companies.

However a spate of failed flotations in the UK may lead it to play safe and chose either the New York or Hong Kong stock exchanges, according to founder and chief executive Heath Zarin, who said he aims to make the company one of the world’s top 20 logistics firms.

EV Cargo includes CM Downton, NFT Distribution, Palletforce and Allport Cargo Services in its group of companies and counts Asos, Primark, Next, Asda, Sainsbury's, Kraft Heinz, Dyson, AB InBev and Fever-Tree among its customers.

It operates and manages road, sea and air freight with a network of 9 million sq ft of warehouse space and 20,000 delivery vehicles. The company employs 5,000 people in the UK, including 2,200 drivers.

Zarin said EV Cargo is aiming to become one of the world's top 20 logistics firms both organically and through acquisition, which would make flotation a “possible step”, but he added that there is no timetable in place.

In an interview with The Mail on Sunday, Zarin said the company was considering a flotation on the London Stock Exchange but is wary of its recent flotation track record after a number of recent high profile failures, including flotations attempted by Deliveroo, Dr Martens and Moonpig.

He said: “We would, of course, consider a listing on the London Stock Exchange," he said. However, he added that Hong Kong is home to the company's global HQ and a flotation there would marry with the company’s ongoing plans to expand in the region.

Wall Street is another option, particularly with a potential US acquisition on the cards, Zarin added.

“Any of those three would be under consideration as the listing venue and each has its respective strengths,” he said. “Unfortunately, the London Stock Exchange in recent years has had a few public listings that haven't gone as well as they could have done.

“A key thing would be to see some success stories occurring there. That would be encouraging.

“We are a technology-enabled logistics business born out of the UK but competing on a global basis, and so it is something that we certainly would be considering.”

Despite the stresses of supply chain delays, the lorry driver shortage, soaring fuel bills and an approaching economic recession, Zarin said he is “more optimistic” than some observers, noting that “consumers still have money” and are continuing to spend it.