BDO advises on sale of Midlands freight specialist to Latin American buyer

Accountancy and business advisory firm BDO LLP has advised on the sale of Cargo Marketing Services, a leading provider of freight services to the UK forwarding industry.

The Midlands Corporate Finance team acted as M&A adviser to Tamworth-based CMS, which has been acquired by MSL Corporate, Latin America’s leading Non Vessel Operating Common Carrier (NVOCC). The team, which successfully presented the business for sale and negotiated the deal, was led by Roger Buckley and Graeme Gladstone, with support from Gurpreet Poonia.

Founded in 1982, CMS is a UK-based NVOCC, providing a comprehensive range of freight services – from small consignments to full containers, out of gauge cargo, import or export, port-to-port or door-to-door. The company facilitates import/export to/from destinations all over the world, with particular emphasis on North America and the Far-East.

BDO M&A Partner, Roger Buckley, said: “We’re delighted to have advised the shareholders of CMS on this cross-border sale. The acquisition of CMS will allow MSL Corporate to establish a UK presence that will enable them and CMS to go from strength-to-strength.

“CMS is a longstanding and highly regarded player in the regional and global marketplace, with an enviable international client base. This transaction further reinforces BDO’s credentials in the logistics and supply chain sector and is an excellent example of our cross-border capability.”

The acquisition will allow CMS to offer its clients better access to and expertise in the South American, Caribbean and North American shipping routes.

Mick Frearson, Managing Director, CMS, added: “We are excited to have sold CMS to a perfect partner in MSL Corporate. The combination of the two companies will allow MSL Corporate to enter the important UK market and affords CMS unrivalled experience in the Americas.

“We were delighted by the professionalism and commitment of the BDO team in getting the deal done, in what has been a dynamic situation during Covid.”