Cargostore Worldwide complete £24m MBO
Law firm DMH Stallard has advised the shareholders of Cargostore Worldwide Trading on their £24m secondary management buyout (MBO) by clients of Connection Capital, a specialist private client investment business.
£7.5m of the private capital will support growth in offshore wind, oil & gas, international aid and defence markets.
Cargostore is a global container specialist operating from London and Abu Dhabi, with 30 strategically positioned storage facilities and depot locations around the world to service its diversified blue-chip international customer base.
Kate Norgett, Partner at DMH Stallard, who led the team advising Cargostore, said: “This exit is the culmination of three years’ work and I am delighted to have helped Cargostore achieve it. Most satisfying of all, the next phase of their growth plans will be underpinned by this new tranche of funding.”
Justin Farrington Smith said: “Connection Capital’s investment will be instrumental in enabling us to consolidate our competitive advantage and leverage favourable market dynamics to deliver our future growth plans. With a healthy pipeline of new business opportunities for 2020, building on a core base of long-standing customer relationships, it’s a great position to be in as we enter this new decade.”
DMH Stallard has offices in Sussex, Surrey and London.