This week, six United Kingdom-based logistics companies have joined up to create the largest privately owned logistics conglomerate in the country, to be called “EV Cargo.”
According to Ecommerce News Europe, a Hong Kong-based private-equity investment firm EmergeVest – which has been expanding its foothold in the logistics industry — is the force behind the merger. EmergeVest has previously made investments in supply chain and logistics software services, such as Adjuno, Allport Cargo Services, CM Downton, Jigsaw, NFT and Palletforce .
EV Cargo will provide express delivery, global forwarding, logistics and technology services, with 175 operating facilities, 9 million square feet of warehousing space and 20,000 delivery vehicles, projecting £850 million in annual revenue. Its combined workforce will come to 5,000, which includes 2,200 truck drivers, spanning a network of “more than 120 countries,” the company said.
“Although these are U.K. firms, our business is global,” said EmergeVest founder, Heath Zarin (pictured), who will serve as CEO of the new company. “EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people, technology, innovation and sustainability.”
With the future of the U.K.’s cross-border trade relations with the European Union still swirling in ambiguity, it will be interesting to witness how the new logistics endeavor fares when the U.K. makes its Brexit in the spring. However, some U.K.-based forwarders have said that business is doing well as of late, despite concerns around trade relations.1 - Reader Likes This Post