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Robert.Jervis_43227 Jul 06

Currie European Transport acquires Laser Transport International

Currie European Transport acquires Laser Transport International image
Concluded deal in just eight weeks, across seven companies and four countries
Currie European Transport has completed its second takeover in 16 months after acquiring Kent firm Laser Transport International Ltd. The transaction will increase Currie Group's turnover by almost one-third, follows the takeover of Dundee-based PS Ridgeway in February 2019.

The acquisition was funded with the help of a £9 million refinancing deal with Bibby Financial Services (BFS), including a £1.5 million confidential invoice discounting (CID) deal. The transaction price has not been disclosed.

The facility has already allowed the successful acquisition of Laser Transport International Ltd, and the increased working capital will support Currie Group’s continued growth plans across the UK and Europe.

Laser Transport International's £18 million annual revenue takes total turnover to £75 million for Currie, trading as Currie Solutions and six other companies in Scotland, England, the Netherlands and France.

BFS managed to conclude a deal in just eight weeks, even though it involved seven companies and four countries.

Source: Analytiqa