- 13 April 2016
- Transport / Logistics Services
Panther Logistics has begun the process of a management buy-out, supported by investment company LDC. Panther Logistics is the UK’s largest independent two man next day home delivery company, and the deal is expected to be worth £17m.
Based in Northampton in the East Midlands, Panther specialises in delivering home furniture, white goods and other high value items that include bedroom, bathroom, fitness, garden and office products. The rapidly growing company has UK wide coverage with a network of eight regional hubs and a fleet of 300 fully liveried vehicles as well as a proprietary IT platform.
In part due to the rapid growth of online shopping and with a reputation for customer focus and service excellence, the delivery company has more than doubled sales to £30 million in the last two years.
With LDC’s investment Panther will continue to invest in operations and develop new service innovations that will support Panther’s customers. As part of the leveraged buyout supported by LDC, LDC has acquired a significant minority shareholding in the company that enables the founder of the company, Wilson Barrett to retire.
Colin McCarthy, managing director of Panther, said: “This is an exciting point in the business’s journey for our employees and customers alike. Bringing on board an experienced investment partner like LDC provides a springboard for further growth and investment.
“I would like to thank Livingstone who were tireless in pursuit of our objectives throughout the process. Their dedication and hands-on approach allowed us to remain focused on day-to-day running of the business – we are delighted with the outcome.”
Rob Schofield, investment director at LDC, commented: “Panther is a great example of the type of business we’re keen to support. It has successfully positioned itself at the forefront of the fast-growing specialist delivery sector, capitalising on consumer trends that have seen delivery service come to the fore. The firm has a highly experienced management team led by Colin McCarthy, and we look forward to working with them to support their ambitions for further growth and development.”