Birmingham-based 3PL and e-fulfilment specialist LTS Global Solutions has been acquired in a management buy-out (MBO).
The MBO was led by Managing Director Dave Hands and Director of International Services Mirza Baig. LTS – a TPN member – currently employs 60 people at its Birmingham hub and has an annual turnover of approximately £8 million.
Hands said: “Our business has always been known for its impeccable customer service, reliability and knowledge of global logistics. This deal will enable us to bring in new thinking and further investment to realise our ambitious growth plans.
“Our key markets are construction, retail and manufacturing, where we provide a wide range of added-value logistics services. This is where we differentiate ourselves from our competitors – providing customers with more than just transport services, rather complete, business critical logistics solutions.”
Hands said that LTS hopes to have found larger, state-of-the-art premises by 2022 to enable it to cope with anticipated demand for its services.
The MBO team was advised by national law firm Backhouse Jones with due diligence being undertaken by accountants Moore and Smalley.