Debrett’s and FDC Exit Logik Logistics International via Sale to Danx Carousel Group
Debrett’s, the mid market adviser and investor, and Frontier Development Capital (‘FDC’) have exited Logik Logistics following a successful partnership with the company, established in 2022.
Logik is a market leader in time-critical logistics. It covers sectors including automotive, aerospace, carbon composite, retail, pharmaceutical, publishing, and marine. Its customers range from original equipment manufacturers (OEMs) to companies needing urgent medical shipments and ship spares.
Debrett’s and FDC first invested in 2022, backing Logik CEO, David York. With their support the business has grown significantly and expanded intro complementary markets.
The transaction, led by James England, Tom Eastwood and Harveer Gill (all of Debrett’s) generated a 5.6x money multiple return for Debrett’s and a similarly successful result for FDC.
CEO David York will remain with the business and continue to drive it forward within the Danx Corousel group. He commented: “When searching for investors for the MBO, I wanted to find the capital and support required to take full advantage of the opportunity we had. Its been amazing to work with Debrett’s and FDC over the last two years and I am delighted to repay the trust they placed in me. I now look forward to continuing to grow the business within the Danx Carousel family.”
Lars Ryssel, Managing Director of Western Europe for DANX Carousel added: “This acquisition not only expands our time-critical logistics capabilities but also strengthens our on-demand / ad-hoc service platform, enabling us to better serve our customers’ needs.”
Darryl Eales, Chair of Debrett’s and outgoing Chair of Logik commented:“It has been a huge pleasure to work alongside Dave & the team over the last couple of years and immensely rewarding to have seen the development of the business over this period. I wish Dave, Logik and Danx Carousel the best of luck for the future”.
The Logik shareholders were advised by Debrett’s Advisory, Browne Jacobson (Roger Birchall and Clare Hanna) and MDP (Arran Jones). FDC were led by Charlie Robinson throughout the investment and were advised by Gateley plc (Chris Jones).
DANX Carousel were advised by Mills & Reeve (Tom Shorten and Jodi Oosthuizen) and KPMG (Richard Aston).
Debrett’s provides advice to clients throughout the UK on business acquisitions, sales, management buy-outs and buy-ins and equity and debt fundraisings, as well as direct investments in profitable, growing businesses run by proven, ambitious management teams. The team is one of the most active in the UK M&A market and the business is chaired by Darryl Eales, former CEO of the private equity arm of Lloyds Bank.
Debrett’s Private Finance (debrettspf.com)
FDC provides debt funding to established mid-market SMEs and property developers seeking to grow their business through the support of a flexible, long-term investment partner.
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