Mon, 16 Jan 2023 | BUSINESS SALE
Food temperature-controlled storage and logistics firm Associated Cold Stores & Transport (ACS&T) has been acquired by HSH Cold Stores from agriculture group Camellia Plc in a £16.5 million deal. The deal represents a 27.5x multiple of ACS&T’s £0.6 million pre-tax profits for the six months to June 30 2022, during which time it generated revenues of £13 million.
The deal, initially announced in December, expands HSH’s strategic presence, adding ACS&T’s Grimsby, Tewkesbury and Wolverhampton facilities and increasing its storage capacity to approximately 140,000 pallet positions. The acquisition brings the total fleet of the merged businesses to 75 large goods vehicles (LGV) lorries.
The completion of the deal comes at a time of accelerating M&A activity in the logistics sector. Despite mounting headwinds and falling confidence, a survey last year by BDO and Barclays found that 45 per cent of logistics firm owners polled were targeting acquisitions over the coming year, seeking increased scale, expanded service offerings, higher margins and greater tech uptake.
HSH’s acquisition of ACS&T reflects several of these trends, giving the acquirer (which is part of the European Constellation Cold Logistics group) a greater strategic presence and increasing the scale of its storage and fleet.
Commenting on the deal, HSH Managing Director Anthony Howard said: “We are enormously proud and excited to welcome ACS&T to the HSH family, the acquisition provides a unique opportunity for HSH to expand its storage and distribution services for our new and existing customers.”
“Having co-founded HSH nearly 20 years ago, I am extremely proud to see how our company has grown over the years and would like to extend my gratitude to our team on reaching this milestone. I look forward to collaborating with the team at ACS&T to accelerate our growth and develop new high quality cold chain solutions.”
Read about the factors driving M&A activity in the UK logistics sector.
Find businesses for sale here.
If you are looking for an exit, we can help!.
This well-established NW based business has been trading since 2004 providing uPVC windows and doors, orangeries, bi-folding doors, sun lounges, roofs, timber frames, rock & composite doors.
This well-established business has been trading since 2008 based in Cheshire and currently working from home. The vendor is a commodities trader specialising in the trading of edible nuts and dried fruits in bulk worldwide.
This well established business has been providing cooked meats and food to retailers for over 30 years and also has several mobile refrigerated vehicles on the road doing the rounds to local businesses catering for their staff. The client delivers hu...
05
|
Nov
|
Bruton looks to South West for growth after new acquisition | BUSINESS SALE
Exeter-based commercial property management firm Haarer Goss...
05
|
Nov
|
Power electrics fires up employee ownership | BUSINESS SALE
Temporary power solutions Power Electrics has transitioned f...
05
|
Nov
|
UK administrations update: October 30 – November 5 | ADMINISTRATION
Since our last update, the following businesses have been co...
11
|
Dec
|
£1 billion of prime London property put up for sale | COMMERCIAL PROPERTY
Three prime London properties have been put up for sale by G...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.