Elanders has acquired Bishopsgate

Arrowpoint Advisory’s Business Services team has advised the shareholders of Elanders on its agreement to acquire almost 90 percent of the shares in Bishopsgate.

Elanders is a Swedish publicly listed company which offers global supply chain management solutions. Elanders operates in more than 20 countries across the world and employs more than 7,000 people. Bishopsgate business will join its Supply Chain Solutions division.

Bishopsgate, which had previously been part of Master Removers Group Limited, is a leading provider in the UK within specialist transportation, installation and configuration of medical devices, office printers, data centres, parcel lockers and charging stations for electric vehicles. The company has around 250 employees and had sales of GBP 27 million during the last twelve months with strong levels of profitability.

The acquisition is line with Elanders’ strategy to invest in and grow in Life Cycle Management services and to increase its share of value-added services to customers operating in Electronics and Healthcare & Life Science. Digitalisation has been prioritised at Bishopsgate and the entire process of managing the customers’ equipment can be followed digitally by the customers, all the way from receipt to delivery and installation.

At the time of the acquisition, Bishopsgate was valued at GBP 47.5 million on a cash- and debt-free basis and Elanders will initially acquire 88.5 percent of the shares. There is also a compulsory put/call option that gives Elanders an opportunity to buy the remaining shares in a few years for a purchase price based on the company’s performance in the coming years.

Barry Sheehan, Managing Director at Arrowpoint Advisory, commented: “We are delighted to have supported Elanders on this transaction, which further strengthens its market position in Life Cycle Management in the UK.”

Contact the deal team