The expectation of a more stable economic environment brings a more positive outlook which is supported by the significant deals we have seen announced this year and the continued investment in technologies aimed at driving further efficiencies.
GXO acquires WincantonUS-based logistics company GXO successfully acquired Wincanton for a consideration of £762m realising an approximate EBITDA multiple of 7x. The acquisition will allow GXO to provide additional services to current and new customers across a wider market, whilst also harnessing their high-quality technology to become a prominent leader. | Biofortuna acquires CryonissUK temperature-controlled storage and logistics management services for pharmaceutical and biotechnology companies, Cryoniss Ltd, has been acquired by UK based molecular diagnostics company, Biofortuna. It is believed the acquisition of Cryoniss will allow Biofortuna to benefit from Cryoniss’ expertise and infrastructure in temperature-controlled biological sample storage. |
Inchcape Shipping Services continues its international growthFollowing the acquisition by private equity firm Epiris in May 2022, UK based Inchcape has been on a buy and build strategy. Inchcape have already acquired businesses in Belgium, New Zealand and Norway and in Q2 acquired another Norwegian Logistics business Grieg Logistics, provider of logistical services for energy, production and the maritime industry. | Descartes System Group acquires BoxTop TechnologyDescartes Systems Group, an acquisitive Canadian logistics technology firm, has successfully acquired BoxTop Technology, UK provider of shipment management solutions, for £10m. BoxTop Technology has been a long-standing partner of Descartes, integrating the Group’s Global Logistics Network to enhance their customer support. Descartes anticipates that the acquisition will enable further integration of BoxTop’s offering with the Descartes Global Logistics Network, thereby extending their reach across various European markets. |