Abbey Logistics

Business Description

Abbey Logistics is a niche logistics provider which specialises in the transportation of bulk liquid and powder across the UK and Northern Europe.

Background

Headquartered in Liverpool, Abbey Logistics was set up over 25 years ago by the Lucy family, developing a market lading proposition in the liquid food ingredients transportation market, with more recent diversification into the bulk powder market. The company demonstrated strong year-on-year growth in the five years prior to our investment – with turnover more than doubling following a number of acquisitions and large contract wins. The business operates from nine UK sites including Wirral, Hull, Manchester, Knowsley, Middlewich and London.

NorthEdge Exit

In October 2023, NorthEdge completed the sale of Abbey Logistics Group to a specialist logistics provider, to Belgium based food logistics specialist Sitra Group (Sitra).

The exit was led out of the Manchester office by Jon Pickering, Partner and CIO, and Dan Matkin, Director, alongside the Abbey management team. The deal represented the seventh exit from NorthEdge Fund II, following a strong partnership with management.

During the investment period we supported the business to build out the senior leadership team, with the appointment of MD, CFO and Sales Director; complete three strategic acquisitions, increasing geographical coverage and expanding the fleet; invest in its people and professionalise the operations. As a result, the business has grown revenues and market share, alongside maintaining market-leading margins and outstanding customer service levels.

Jon Pickering, Partner and Chief Investment Officer at NorthEdge commented: “We are proud to see Abbey joining forces with Sitra, another market-leading business with a strong commercial and cultural fit. Throughout our partnership management have worked tirelessly to build a high-quality leadership team, retain and grow a blue-chip customer base, continuously improve operational efficiencies and develop a market-leading approach to talent attraction and retention to support scale. Abbey is now well positioned for future growth as part of Sitra, continuing to deliver world-class service to its customers, and we wish the whole team the best of luck in their next chapter.”

Steve Granite, former CEO and current Executive Chair of Abbey Logistics, added: “Since our MBO we have successfully transformed Abbey from a £45m turnover family business to a £75m market leader and refocussed the business on its core strengths as a specialist tanker operator in the UK. We are proud of how the business has grown not just in revenue but in market share and maturity to become the UK’s leading food tanker operator. With the unwavering support of NorthEdge and a great working relationship between the Board and the investors, the business is now in great shape, and I am delighted to see it end up in the ownership of another family-owned business in Sitra who will undoubtedly develop the business & its people even further.”