Hong Kong Private Equity Investor EmergeVest Creates EV Cargo, the Largest Privately-owned Logistics Business in the UK
HONG KONG,Nov. 23,2018 --
Hong Kong private equity investor EmergeVest announces the creation of EV Cargo
Six EmergeVest-backed companies come together to form the new entity
EV Cargo has annual revenues of GBP 850 million and focuses on the intersection of logistics and technology
Cargo-centric model delivers mission-critical supply chain services
Business will manage supply chains for world's leading brands
Long-term strategy for investment,growth and acquisitions
Hong Kong private equity investor EmergeVest has announced the creation of EV Cargo,consolidating ownership of six of the UK's leading logistics companies into one of the UK's largest providers of transport,logistics and freight-forwarding services and logistics technology,and a global supply chain company operating in more than 120 countries.With GBP 850 million of revenue annually,EV Cargo is now the largest privately-owned logistics business in the UK,providing mission-critical supply chain services to leading brands.
EV Cargo has been created by the consolidation of Adjuno,Allport Cargo Services,CM Downton,Jigsaw,** and Palletforce into a single corporate structure.The new firm will feature a core asset-based UK logistics network totalling 9 million sq ft of warehousing space and 20,000 delivery vehicles; a team of 5,000 UK based logistics professionals including 2,200 truck drivers; 175 UK operating centres and 18 overseas operations; and international logistics operations managing 200,000 containers of sea freight annually and 6 million kg air freight monthly.
All six companies are part of a platform of UK logistics firms operated by EmergeVest. Founded in 2013,EmergeVest has created the group in less than five years and believes now is the time to form EV Cargo to create new synergies,benefits and opportunities for the combined business and its stakeholders.
Individually,the six companies are acknowledged experts in their respective fields with deep logistics heritages,strong brand recognition and market goodwill. Each company will retain its own identity and continue to manage supply chains for the world's leading brands.
EV Cargo includes four main operating segments: Express,Global Forwarding,Logistics and Technology. Operating under the group structure,EV Cargo will adopt a cargo-centric approach,focussing on customer needs across the entire supply chain by bringing together the best people,processes,technology and networks.
Championing innovation and sustainability,EV Cargo will maximise opportunities for efficiency and growth across both existing and new markets. Continued investment across the network will fuel growth,drive acquisitions and ensure EV Cargo is powered by the best technology.
A key benefit of the increased scale of EV Cargo will be new opportunities for employees with enhanced career development paths across the group.
The EV Cargo executive board will be led by EmergeVest founder Heath Zarin as Chief Executive Officer,supported by Chief Strategy Officer Simon Pearson,General Counsel Mark Davis and the Chief Executives of the four main operating segments.
Heath Zarin,EmergeVest Founder and CEO of EV Cargo,said: "We are excited to announce the creation of EV Cargo,bringing together our UK logistics and technology platform into a unified corporate structure. These six firms are all 'best in class' in their respective areas of specialisation and bringing them together is highly complementary. And although these are UK firms our business is global,operating in more than 120 countries.
"EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people,technology,innovation and sustainability. By working closer together and creating additional capabilities,we will provide new and existing customers with access to a wider range of leading-edge integrated solutions."
