Sale of Cygnia Logistics to Wincanton plc
Sub-IndustryTransport & Logistics
BDO has advised the shareholders of Cygnia Logistics Limited on its sale to Wincanton plc.
Cygnia is a specialist in eCommerce fulfilment with expertise spanning the full breadth of their customers’ requirements, including high-volume order fulfilment, returns and carrier management services. It is one of the UK’s principal providers of supply-chain services and solutions to high-profile consumer-facing brands such as BrewDog, Moonpig, Molton Brown, Revolution Beauty, Whittard of Chelsea and Feelunique.
Wincanton identified eCommerce as a key growth market and an area of strategic focus for the business. This transaction will provide Wincanton access to exciting growth opportunities in the mid-market sector. The acquisition will provide Cygnia with access to Wincanton’s scale and expertise while leveraging Cygnia’s skills and reputation in the eCommerce market.
The BDO M&A team worked with the management and shareholder to prepare the business for sale, identify an international buyer pool and managed a tight process following a strong level interest from both trade and private equity parties. Wincanton set itself apart from the pack in its proposition and transaction deliverability. BDO managed the process to a successful outcome for all stakeholders involved.
“The BDO team provided exceptional support to the Cygnia shareholders throughout the sale process. The BDO team were precise and efficient which coupled with their proactive approach delivered a great outcome for all stakeholders.”
Glenn Lindfield, CEO, Cygnia Logistics
“The BDO Logistics & Supply Chain Management team are delighted to have advised on another great deal in the sector. This transaction exemplifies the trend in the market of growing through consolidation and the increasing focus on the e-fulfilment space. Wincanton is an ideal home for the Cygnia business and will help facilitate further investment and growth."
Jason Whitworth, Partner, BDO