Six companies form major logistics company EV Cargo
Six logistics companies from the United Kingdom have combined to form a new logistics company, which is said to be the largest privately owned logistics company in the country. The newly created company is called EV Cargo.
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The idea for the new logistics company, comes from private equity firm EmergeVest. Since 2013, it has invested in several logistics companies: 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.
EmergeVest has now created EV Cargo, “the largest privately owned logistics company in the UK” from these six players. Through a single corporate structure, the new entity will operate in the following four segments: express delivery, global forwarding, logistics and technology.
eDelivery says the combined entity will have about 963 million euros in annual revenue, with 175 operating centers, over 830,000 square meters in warehousing space and a total of 20,000 delivery vehicles. EV Cargo has over 5,000 people working for them, including 2,200 truck drives.
‘UK firms, but our business is global’
“These six firms are all best in class in their respective areas of specialization and bringing them together is highly complementary”, Heath Zarin, EmergeVest Founder and CEO of EV Cargo, says. “And although these are UK firms our business is global, operating in more than 120 countries. EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people, technology, innovation and sustainability.”