Fri, 09 Jun 2023 | BUSINESS SALE
Logistics firm EFS Global has continued its acquisitive growth with a deal for East Sussex-based ILS Holdings Ltd and subsidiaries Sussex Pallet Services Ltd and Independent Logistic Solutions Ltd. The deal is the 23rd that EFS has completed since 2015, taking its presence across England and Scotland to 35 offices and depots.
ILS Holdings operates throughout Europe, offering freight transport collection and delivery services, as well as general haulage and storage, to customers from a broad range of sectors.
The deal will see Burnley-based EFS acquire its entire issued share capital and take on its 40-strong workforce. Following the acquisition, EFS is planning to implement a “business as usual” strategy, in order to build on ILS’s existing achievements.
The deal was led by EFS Global’s group strategy director Jordan Kellett, who said that the acquisition would "help to extend our Southern presence from Kent into East Sussex which will be a fantastic foundation for future planned growth." The acquisition builds on the company’s existing presence in the South East, following its 2022 purchase of Kent-based sister companies Eminence Transport Ltd and Floryn Ltd.
A team from Davis Blank Furniss, led by the law firm’s partner and head of corporate Sonio Singh, advised EFS Global on all elements of the acquisitions, including transactional considerations and legal due diligence.
Sonio Singh commented that he was confident that the acquisition would deliver EFS “real value and geographical benefit as it continues to grow its reach and network around the country."
Despite logistics companies facing a raft of adverse conditions, including rising labour costs, supply chain chaos, talent shortages, rising inflation and soaring food costs, M&A in the sector remains strong. In a 2022 survey of UK logistics firm owners by BDO, almost 45 per cent of respondents said they were planning to make an acquisition in the coming year, with many – like EFS Global – looking to build resilience and attain growth by using M&A to expand their geographic reach into high-growth or underserved areas.
Read more about M&A in the UK logistics sector:
Logistics firms targeting acquisitions despite falling confidence.
Logistics M&A remains “lively”, with strong deal flow forecast to continue.
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