Arrowpoint Advisory’s Business Services sector team have advised the 213-year old, family-owned Bibby Line Group on the carve out of Bibby Distribution to Menzies Distribution, a portfolio company of Endless LLP.
Bibby Distribution is a key player in the UK logistics market with annual sales of over £150 million and a fleet of over 1,800 vehicles and trailers operating out of 38 sites. Over 35 years, Bibby Distribution has built an end-to-end supply chain platform that provides solutions for its customers across a number of sectors including paper and packaging and consumer products. Bibby Distribution’s customers include an array of grocery retailers and blue-chip organisations across a range of resilient sectors.
In recent years, Bibby Distribution’s committed senior management team, led by Richard Morson and supported by an engaged 1,400-strong workforce, has executed operational changes which has delivered strong levels of earnings growth. The transaction creates a major force in UK logistics, unlocking geographic potential and further B2B retail logistics capability to Menzies’ well-established platform. In synergising the networks and fleet, the scale of the combined business operations will amount to almost 5,000 employees, 4,000 vehicles and 100 depot locations.
Richard Morson, Chief Executive Officer of Bibby Distribution, said: “Arrowpoint Advisory’s impressive knowledge of our industry, combined with their commercial and technical knowledge was invaluable to the process. They have their finger on the pulse of the logistics industry and were able to provide real-time market insight to help inform our decision making. I thoroughly enjoyed working with the Arrowpoint team and would highly recommend them.”
Alexei Callender, Investment Director, Bibby Line Group, commented: “We chose Arrowpoint Advisory to handle this important transaction for us because of their strong logistics sector experience and reach – and we were delighted we did so. They offered us strategic guidance and hands-on support at every step of the journey. Their commitment went a long way to securing the successful outcome achieved.”
Barry Sheehan, Director, Arrowpoint Advisory, added: “Bibby Distribution is already one of the leading UK platforms and, in partnership with Menzies, I am confident both businesses will continue to flourish.”
Patrick Groarke, Managing Director, Arrowpoint Advisory concluded: “Bibby Line Group is a diverse, international business and we are delighted to have advised the group on this important realignment of its portfolio of activities. Being part of the Menzies group will offer great opportunities to grow both businesses.”
The transaction builds on Arrowpoint Advisory’s recent experience in the logistics sector with the sale of Panther Logistics to US-based AIT Worldwide Logistics in November 2020.