Tue, 29 Jul 2014 | MBO/MBI
Freight forwarding firm Allseas Global Logistics has been put through a management buy-out backed by Barclays Corporate Banking.
Established for over 25 years, Allseas is one of the leading forwarders in specialist out-of-gauge cargo and has a global network of accredited agents managing its deliveries.
The deal, for an undisclosed sum, was led by managing director Darren Wright and once finished will see the company return to its roots in the North West, where it was founded, and transferring its headquarters from Nottingham to Rochdale.
As well as being the managing director for Allseas Global Logistics, Darren Wright is the owner and founder of the group of companies. It has a 50-strong workforce and turnover exceeding £50 million per annum.
Mr Wright thanked Barclays for their work on the deal, and his staff: “The whole team at Allseas has worked tremendously hard over the years to establish a successful business which is now set for further growth.”
Matt Ryan at Barclays added: “Darren realised his vision to establish a successful freight business which focuses on the needs of its customers. They are now well-placed to build on their success to date and take the business to the next level.”
Allseas offers breakbulk and out-of-gauge, containerised freight, heavy lifting and chartering and air freight to the oil and gas, energy and power generation, mining, plant and machinery, event logistics and supply chain logistics industries.
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