- Business Services team advises on significant market deal
- Martinspeed is a leading provider of art storage, logistics and installation in the UK.
Accountancy and business advisory firm BDO LLP has advised on the sale of Martinspeed, a leading provider of art storage, logistics and installation in the UK.
The Midlands Business Services team acted as M&A adviser to Alcuin Capital Partners and other shareholders, including Management of Martinspeed, which has been acquired by Crozier, an Iron Mountain business (NYSE: IRM) and a global leader in fine arts storage and logistics. The team was led by Satvir Bungar, Head of Facilities Sector M&A.
With secure storage facilities in London and Heathrow Airport, Martinspeed has a strong reputation among galleries and private art collectors, as well as serving museums and auction houses. This includes national and international logistics capabilities for the safe and secure movement of art, as well as art installations of any scale.
Satvir Bungar said: “We are delighted to have advised the shareholders of Martinspeed on the sale to Crozier. Martinspeed is a well-known, market-leading brand, with a superb international client base. This transaction further reinforces BDO’s credentials in the business services space.
“The sale to Crozier, part of a company of significant stature and a highly acquisitive nature, is testament to the global reputation Martinspeed has carefully engineered over the last 46 years.”
The acquisition will allow Crozier to build on its existing presence in London, the world’s second largest market for art storage and logistics after New York City. It will gain immediate operational scale and expand its capabilities to include crating, specialist art installation teams, global freight forwarding and a pan-European transport fleet.
Bungar added: “Our sale process included discussions with numerous international parties and this deal will generate interest in the arts world. As the wider Art market continues to recover following the pandemic, we believe this will trigger increased activity, whether that’s through market consolidation or cross-border M&A activity, from dominant players looking to enter niche markets and proven territories.”
Listed on the New York Stock Exchange (NYSE), Iron Mountain is a global leader for storage and information management services, storing and protecting $18 billion of valued assets, including critical business information, highly sensitive data, and cultural and historical artifacts.
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