NFT joins £850m logistics giant
Created by private equity investor EmergeVest, EV Cargo is one of the largest privately-owned logistics business in the UK, formed by the consolidation of Adjuno, Allport Cargo Services, CM Downton, Jigsaw, NFT and Palletforce into a corporate structure under a new single brand.
Each company will retain its own identity and continue to manage supply chains around the world while providing new opportunities for employees with enhanced career development paths across the group.
NFT chief executive Ross Eggleton said the move would give the company and its customers access to an expanded range of services, and would create added value all under one brand.
‘Consolidation and business growth’
“It’s an exciting period and we look forward to delivering on the opportunities for consolidation and business growth with the strength and financial backing of EV Cargo,” he added.
EV Cargo includes four main operating segments: Express, Global Forwarding, Logistics and Technology. Operating under the group structure, EV Cargo will adopt a cargo-centric approach by bringing together the best people, processes, technology and networks.
EmergeVest said it would continued to invest across the network in an effort to fuel growth, drive acquisitions and ensure EV Cargo was powered by the best technology.
‘Powered by people’
Commenting on the creation of EV Cargo, chief executive Heath Zarin said: “EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people, technology, innovation and sustainability.
“By working closer together and creating additional capabilities, we will provide new and existing customers with access to a wider range of leading-edge integrated solutions.”
Meanwhile, haulage and cold storage firm Yearsley Group has been acquired by US-based Lineage Logistics Holdings for an undisclosed sum.
The deal included Yearsley Food, the logistics company’s national frozen food supplier arm that supports customers across retail, foodservice, food manufacturing and export channels.
