Global container specialist set for boost with £24m secondary MBO
Law firm DMH Stallard has advised shareholders of Cargostore Worldwide Trading on their £24m secondary management buyout by clients of specialist investment business Connection Capital.
Operating from London and Abu Dhabi, Cargostore has 30 storage facilities and depot locations around the world, servicing its blue-chip international customer base.
As part of the management buyout, Cargostore will see £7.5m of the private capital support the firm’s growth in offshore wind, oil & gas, international aid and defence markets.
Cargostore managing director, Justin Farrington Smith, commented: “Connection Capital’s investment will be instrumental in enabling us to consolidate our competitive advantage and leverage favourable market dynamics to deliver our future growth plans.
“With a healthy pipeline of new business opportunities for 2020, building on a core base of long-standing customer relationships, it’s a great position to be in as we enter this new decade.”
Kate Norgett, partner at DMH Stallard, who led the team advising Cargostore, said: “This exit is the culmination of three years’ work and I am delighted to have helped Cargostore achieve it.
“Most satisfying of all, the next phase of their growth plans will be underpinned by this new tranche of funding.”
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