Logistics provider Cold Move has announced the completion of a management buyout, in a €4.5 million deal structured by Donworth Capital.
Cold Move, which provides temperature controlled logistics services to retailers including Musgrave, Londis, Lidl, Dealz and Iceland, says the MBO offers the business the opportunity to “continue its development as a leader in the supply chain sector,” according to Jason Mallon, the company's managing director.
“The re-structuring brings expertise and a well-financed balance sheet, enabling the development of our business."
Donworth Capital is headed up by John Casey, former supply chain director at Dunnes and former managing director of Allied Foods, and Peter Strange, formerly of fresh produce giant Fyffes.
"The team would like to thank Donworth for their on-going support through the process and welcomes John to the Board of Cold Move," said Mallon.
The MBO was part funded by Bank of Ireland. Cold Move recorded turnover of €7.6 million in 2014.
© 2015 - Checkout Magazine by Stephen Wynne-Jones.