- Abbey is the seventh exit from NorthEdge Fund II
- NorthEdge is a private equity firm with offices in Manchester, Leeds and Birmingham
- NorthEdge acquired Abbey in 2016
NorthEdge has completed the sale of Abbey Logistics Group, a UK-based specialist logistics provider, to Sitra Group.
Golborne-based Abbey provides services to the food industry and has a turnover of £75 million.
The exit was led by NorthEdge’s Jon Pickering, partner and CIO, and Dan Matkin, director, alongside the Abbey management team.
NorthEdge acquired Abbey in 2016.
“Throughout our partnership management have worked tirelessly to build a high-quality leadership team, retain and grow a blue-chip customer base, continuously improve operational efficiencies and develop a market-leading approach to talent attraction and retention to support scale,” said Pickering.
Abbey completed three strategic acquisitions, increased geographical coverage and expanded the fleet during NorthEdge’s investment period, according to a release.
Abbey is the seventh exit from NorthEdge Fund II.
NorthEdge is a private equity firm with offices in Manchester, Leeds and Birmingham. This exit follows NorthEdge’s exit from Future Industrial Services, the partial exit and reinvestment into Cloud Technology Solutions and the investment into Cezanne.
Ypres, Belgium-based Sitra is a family-owned food logistics provider with a turnover of €165 million euros in 2022. It is owned by Saelens family together with Creafund, an investment company holding the balance of shares since 2021.
No financial details of the deal were disclosed.
NorthEdge was advised by KPMG (Corporate Finance – Christian Mayo, Mark Booth, Gary Chiang) and DWF (Legals – Jonathan Robinson, Katy Philips, Eleanor Chatterton).