Yearsley Group Ltd, the temperature-controlled logistics specialist, has been acquired by Lineage Logistics Holdings, the US company that also owns Partner Logistics.
Lineage chief executive Greg Lehmkuhl said: “Bringing Yearsley into the Lineage family enables us to better serve customers in the UK market and further reinforces our international logistics capabilities.”
Yearsley Group Ltd is the Guernsey-based holding company for Harry Yearsley Ltd, which turned over £203 million in the year to 1st April 2017. Operating profit was £5.4 million.
It has 12 cold stores around the UK and a fleet of some 300 vehicles. “Our acquisition by Lineage is a tremendous opportunity for Yearsley customers and employees alike,” said Jonathan Baker, chief executive of Yearsley Group. “Lineage’s commitment to innovation and service is unmatched, and we are excited to strengthen our ability to partner and grow with customers on a global scale unlike ever before.”
Lineage is owned by private equity investor Bay Grove. It was founded in 2008 and is based in Novi near Detroit. It operates more than 100 facilities in the US totally over 600 million cu ft.
“We see tremendous alignment between our two organisation, not only in our capabilities to diligently serve customers’ extended supply chains, but also in our dedication to supporting a values-based culture that empowers our growing international workforce,” said Lehmkuhl.