The leadership team at third party logistics provider Dalepak has completed a buyout of the business supported by Sovereign Capital, the private equity firm.
Dalepak employs 265 staff and has more than half a million square feet of warehousing space across four sites in Northampton.
The MBO is part of a planned succession. The business is now led by new CEO David Tracey joining incumbents Scott McGinley, COO and Scott Merrick, IT director. Tracey was formerly the commercial director at Dreams with a particular focus on supply chain, fulfilment and customer service.
The board is also joined by Stewart Oades as chairman and Nick Frogbrook as CFO. Oades has worked in logistics for over 30 years, is a former CEO of Christian Salvesen and former president of the Freight Transport Association.
Dalepak was founded in 1991 and its services include integrated warehouse solutions, contract packing, value added production services and carrier management. In the past three years Dalepak’s revenue has grown by 150 per cent.
“This is a fantastic business with longstanding client relationships which reflect the high quality, bespoke multi-channel services Dalepak provides. With Sovereign’s investment and support we look forward to creating further growth opportunities for the business,” said Tracey.
And Jeremy Morgan, partner at Sovereign Capital, said: “We are delighted to be working with this highly successful business which is delivering significant growth in what is a developing market. The opportunities for the management team to further strengthen and grow the business are significant and we are very pleased to be partnering them at this time in Dalepak’s development.”