Sitra Group acquires Abbey Logistics Group
Abbey is the UK’s market leading road tanker logistics company for bulk food powders and liquids and has a rapidly growing reputation and fleet in the plastics, construction, minerals, animal feed and non-hazardous chemicals sectors. The Group also provides warehousing and materials handling services on the Wirral in the UK, and multimodal transport solutions throughout the UK and Europe. Abbey Logistics is committed to delivering cost-effective, dependable and responsive road tanker logistics for bulk liquid & powdered products in the UK and Europe.
David Saelens, CEO of SITRA Group; “SITRA Group is delighted to announce the acquisition of Abbey Logistics Group. It is a milestone in Sitra’s history to acquire a renowned, well-established company like Abbey. Together with our partner Creafund we have been working almost a year on this deal and to now welcome the whole Abbey family to the SITRA Group feels as the cherry on the cake. It was a great pleasure to work closely with Steve, Dave and Matthew who are truly professionals as well as the other members of the Abbey management. We have not only acquired a great company but we also welcome some of the best individuals in our industry. We are very much looking forward to welcoming and introducing every Abbey member in our organisation. Abbey will continue to operate under its own name and colours and SITRA is not intending to change whatsoever to the well-working organisation that Abbey is today.”
Since 2016 Abbey has been majority owned by private equity firm NorthEdge Capital following the Management-Buy-Out led by former CEO and current Chairman Steve Granite who commented on the deal; “Since our MBO we have successfully transformed Abbey from a £45 million turnover family business to a £75 million market leader and refocused 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 SITRA Group, who will undoubtedly develop the business & it’s people even further.”
David Patten, Group Managing Director of Abbey added; “I have worked with SITRA as a supplier during my time as a customer in Europe and I hold the company and its people in high regard. It is an exciting time in Abbey’s history to once again be part of a family-owned business and I am over the moon to be part of the SITRA team. This is great news for our employees and customers.”
Jon Pickering, Partner and Chief Investment Officer at NorthEdge said; “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 has 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.”
Kenneth Depuydt, Partner of Creafund added; “We are extremely pleased to accelerate the strategic growth plan of SITRA by adding Abbey to our ambitious Group. We truly value the professionalism, the entrepreneurship, the reputation and all stakeholders, including all employees of Abbey tremendously. We hence warmly welcome Abbey as part of our Group and look forward to further consolidating the food logistics market together.”