Evolve Corporate Finance advises Avon Freight Group on the sale to Ireland-based Primeline Group
Evolve Corporate Finance, the national M&A advisory practice headquartered in Birmingham, has successfully advised the shareholders of Avon Freight Group (Avon), a specialist transport and logistics operator, on the sale of the business to Ireland-based logistics group, Primeline Group.
West Midlands-based Avon is a market-leading provider of groupage, transport, warehousing and forwarding solutions for customers throughout the UK and Ireland and has more than 40 years' experience providing groupage and customs services to Ireland, with multiple daily, driver-accompanied routes. The business employs over 120 staff operating from three sites, all located in Redditch, Worcestershire.
Primeline Group is the largest independent Irish provider of logistics and route-to-market solutions to home-grown and international brands and retailers across the Irish and UK markets. The business employs 1,200 people across its operations in Ireland and the UK.
The deal marks Primeline Group's first UK acquisition, providing a strong platform for the group's further expansion into the UK. The new partnership with Avon will enhance existing expertise and capabilities in and out of Ireland and Europe, including navigating complex freight customs requirements.
Avon’s Managing Director, Dawn Greene, will continue to manage the business during this exciting new chapter.
An advisory team at Evolve Corporate Finance, led by David Neate, partner, provided strategic advice to the shareholders of Avon, identifying and engaging UK and international strategic parties and negotiating terms to maximise value. David was supported by David Lee, director and Dan McCartney, manager.
David Neate, partner at Evolve Corporate Finance, commented: “It was a pleasure to support and advise Avon’s shareholders on this transaction. The business has built an enviable reputation in its market under the stewardship of Dawn and the management team, and the sale to Primeline will enable both parties to drive further growth in key territories across Ireland and Europe.”
Dawn Greene, managing director, Avon, added: ‘‘Primeline Group has a fantastic reputation for recognising growth opportunities and leading the way in the evolving world of logistics and supply chain solutions, and we are looking forward to being part of a team that is ambitious and excited for the future. The Evolve team successfully negotiated and managed this deal from start to finish. Nothing was ever too much trouble, and their combined knowledge, professionalism, and patience have been exceptional and helped guide us through a very successful transaction.”
Tim Cummins, CEO, Primeline Group, said: “This acquisition will enable us to broaden our footprint in the UK market, whilst also enabling synergies across our entire operations. Bringing Avon into the group also aligns with our goal of being the leading provider of game-changing logistics and route-to-market solutions. We are looking forward to working closely with Dawn Greene and her team to create new opportunities for Avon and the entire Primeline Group.”
