French logistics group DESLOG has acquired County Durham-based supply chain specialist NFS360 Connect for an undisclosed sum, in a move aimed at helping the group navigate complex post-Brexit customs requirements.
Established over 45 years ago by David Lawson, Able Transfer, which trades as NFS360 Connect, started business as Northern Freight Services in 1978.
The family firm has its headquarters in Peterlee and specialises in logistics and warehousing.
It has operating licences for 34 trucks and 48 trailers and employs over 90 staff across four depots.
NFS360 also has 250,000sq ft of warehousing and nine acres of external storage space.
In its most recent annual accounts to 30 September 2023, the company reported a rise in revenue to £11.2m (2022: £10.9m) with pre-tax profit falling to £551,177 (2022: £1.2m) in the same period.
This is DESLOG’s first UK acquisition, which the Dunkirk-based group said was driven by NFS360’s ‘‘strategic locations, long-established logistic network and extensive customer base with an excellent reputation for customer service”.
The group addded that the new partnership will ‘‘enhance existing expertise and capabilities into and out of Europe, including navigating complex freight customs requirements”.
NFS360’s MD, Michael Banks, will continue to manage the business.
NFS360 shareholder Ian Lawson commented: ‘‘The sale of NFS360 to Groupe DESLOG represents an exciting new chapter in the development of the business. It will help to accelerate its growth, develop the service offering, and support the team in delivering exceptional customer service.”
Patrick Guermeur, Groupe DESLOG MD, added: ‘‘NFS360 has built an outstanding reputation as a specialist transport and logistics operator across the UK, and we are excited that they are now part of Groupe DESLOG and the growth opportunities this will bring.
”The firm’s culture, approach to customer service, and offering align perfectly with Groupe DESLOG’s growth strategy and we look forward to working with the management team.’’
An advisory team at Evolve Corporate Finance, led by partner and co-founder Justin Sparks and supported by assistant director Doug Allan, provided advice on selling the business to NFS360’s shareholders.
Lawson said: ‘‘We were delighted to work with Evolve as our advisors who applied their extensive knowledge of the process, understood the nuances of our business, and were able to integrate themselves into our team. Professional and dynamic, Evolve provided first-class advice to lead us towards the best possible outcomes for all stakeholders.’’
Sparks added, “It was a pleasure to support and advise the Lawson family with the successful exit of their long-established and successful business to a strategic trade buyer who is looking to continue to invest in the business and the UK logistics market.
‘‘The logistics market has experienced significant change in recent years, with macroeconomic factors, such as Brexit, presenting market opportunities. Our sector expertise enabled us to identify Groupe DESLOG as an excellent partner for NFS360 and it will enable the enlarged group to capitalise on future market opportunities.”
Sintons provided legal advice to the sellers, led by Adrian Dye, and supported by Daniel Earle. HCR Law provided legal advice to the buyer, led by Alison Scott, and supported by Alex Stenson. Ballards provided financial, tax and IT due diligence services to the buyer.
