Six companies have combined to form the UK’s largest privately owned logistics company.
Private equity firm EmergeVest announced that it had created EV Cargo from the logistics companies which it has invested in since 2013.
These are supply chain software company Adjuno, logistics providers Allport Cargo Services and CM Downton, managed solutions provider Jigsaw, time-critical delivery specialist NFT and pallet distributor Palletforce.
The combined entity will operate through a single corporate structure with four main segments: Express, Global Forwarding, Logistics and Technology.
All-in-all, it will have £850 million in annual revenue, with 175 operating centres, 9 million square feet in warehousing space and 20,000 delivery vehicles. Its workforce will number 5000, including 2200 truck drivers.
Heath Zarin, founder of EmergeVest and CEO of the new unit, said the six firms are all best-in-class in their specialist areas and that the combination would be “highly complementary”.
He said: “EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people, technology, innovation and sustainability.
“By working closer together and creating additional capabilities, we will provide new and existing customers with access to a wider range of leading-edge integrated solutions.”
The launch follows EmergeVest’s most recent acquisition in March of this year of CM Downton. In August, the company invested in Atheon’s visual supply chain analytics platform, which will provide insights to EmergeVest’s portfolio.