Management buy-out at 3PL
LTS Global Solutions, the Birmingham-headquartered provider of logistics, transport and shipping services, has completed a management buy-out (MBO), with plans to grow by more than 40% in the next five years.
Established in 1999 as a transport operator, the company has since grown to become a total service provider offering global supply chain solutions – specifically in the specialisms of ocean, air and rail services, third party logistics (3PL) and fulfilment solutions. The company currently employs 60 people at its Midlands hub and plans to create at least six new jobs next year, when it anticipates taking on additional premises to handle new incoming contracts. By 2022 the business hopes to have found larger, state-of-the-art premises to enable it to cope with anticipated demand for its services.
The MBO, which was completed in mid-November 2020, will enable LTS Global Solutions to focus on areas of growth such as import/export and e-fulfillment, which is becoming even more important as a result of the current Covid-19 outbreak.
Leading the MBO team is current managing director Dave Hands and Mirza Baig, LTS’s director of international services. Commenting on the business’s growth plans, Dave Hands said: “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.”
With Brexit imminent, LTS sees significant growth in the area of global logistics over the next few years. The company already operates a seamless worldwide 3PL operation for customers, thanks to its well-established network of trusted international partners. In the UK, LTS is a member of The Pallet Network.
LTS Global Solutions currently has an annual turnover of £8m. Over the past three years the business has grown steadily, but sees great opportunities for growth post-Covid, aiming to achieve sales of £11.5m by 2025.
The MBO team was advised by national law firm Backhouse Jones with due diligence being undertaken by accountants Moore and Smalley.
For more information, visit www.ltsglobalsolutions.com
