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Brother and sister duo complete MBO at global logistics firm

International logistics firm, Worldnet, which has its headquarters in London, has been bought out by the brother and sister team who have spearheaded the company’s growth in the US.

Richard and Mary Bhullar have bought out International Director, John Earthey’s ownership of the firm’s London, Paris and Los Angeles operators for an undisclosed sum, with funding provided by the Royal Bank of Scotland.

Founded in 1997, Worldnet has grown to encompass five offices across the world, employing 180 staff, and works with what it describes as ‘cutting-edge’ companies in transporting special shipments for the fashion, design, technology and creative industries.

In a statement, Richard and Mary thanked Earthey for his work in growing the Paris and London offices following his retirement, and stressed that it remained business as usual at the firm following the MBO.

They said: “John Earthey built up a tremendous business in London and Paris and we are delighted to take over the management following his retirement. We have lived and breathed Worldnet since its inception and our customers and staff are our number one priority.

“As founders of the US division we bring a wealth of experience to London and Paris and look forward to supporting our customers in the fashion and media industries.”

The pair now intend to utilise channel the new investment into new technologies, and target new sectors and industries.

They added: “It is very much business as usual for our clients and employees – as we continue to deliver exceptional levels of service to our existing customers and expand into new industries.

“Our investment provides Worldnet with an outstanding opportunity to enhance customer communication and service.”

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