Friday 28th Oct 2016 - Logistics Manager

Wincanton buys Hanbury Davies


Wincanton has taken over the container logistics operations of Hanbury Davies in a deal worth £25 million.
The acquisition is the latest in a series of in-fill acquisitions designed to enhance the Wincanton’s profitability, broaden its business base and generate incremental opportunity for medium and longer-term growth. It will strengthen Wincanton’s position within the container logistics market, complementing its developing global transport capabilities and further expanding the service offering to existing customers.
Hanbury Davies was set up by Glyn Davies after he sold his previous business, Russell Davies, to Securicor. Subsequent takeovers resulted in that business becoming part of DHL.
Hanbury Davies has grown to become one of the UK market leaders in the provision of container logistics services. It is being acquired for an initial debt-free consideration of about £25m. Up to a further £2.5m may be payable subject to the financial performance of Hanbury Davies in the period to 31 March 2008. T
It operates from 21 locations across the UK, employs 780 people, and operates 480 vehicles. With a customer portfolio that includes major shipping lines and freight forwarders such as ECS, MSC and Samskip, Hanbury Davies provides a range of container logistics services that enhance the efficiency of both inbound and outbound product flows through all major UK ports.
In the year to 31 March 2007, the container activities of Hanbury Davies reported sles of some £52m, EBITDA of about £4.3m and EBIT of about £3.1m. Net assets at 31 March 2007 were approximately £6.2m.
Chief executive Graeme McFaull said:  “We expect to continue to enhance our strong organic growth with acquisitions which expand our range of services, broaden our sector expertise and reinforce our geographic presence in key markets. We see no shortage of such opportunities, in either the UK or Mainland Europe.”