20:20 Logistics and Caudwell Logistics have both been sold to private equity firm Doughty Hanson & Co.
John Caudwell, chairman, chief executive and major shareholder said that the sale had attracted a lot of interest from a number of “high-quality bidders”.
He said: “I believe that we have achieved a fair price for the business. The group has had another year of excellent trading performance, which bodes well for its future prospects.”
20:20 sources mobile phone handsets from manufacturers and international suppliers, undertakes value-added services and distributes across the UK and overseas. 20:20 will now be renamed 20-20 Mobile Group and will be headquartered in Crewe.
Doughty Hanson & Co and Providence Equity Partners both bought the Caudwell Group for a total of £1.46bn.
The Caudwell Group includes; Phones 4U and Dextra Solutions.