 | |
| Type | Public Limited Company |
|---|---|
| LSE: LDG | |
| ISIN | GB00BD8QVC95 |
| Industry | Investment |
| Predecessor | Eddie Stobart Logistics plc |
| Headquarters | |
| Website | ldgplc |
Logistics Development Group plc, formerly Eddie Stobart Logistics plc, is an investment company with interests in the logistics industry.
In March 2014 Stobart Group announced its intention to re-position itself as an support services business, with the announcement of the sale of its original transport and distribution business to Dbay Advisors Limited (formerly Douglas Bay Capital) for £280.8 million: Dbay Advisors secured a 49% stake in the newly formed business Eddie Stobart Logistics. William Stobart left his position as Chief Operating Officer the Stobart Group to become chief executive officer of Eddie Stobart Logistics. [1]
In April 2017, Eddie Stobart Logistics regained a public listing when it floated on the Alternative Investment Market of the London Stock Exchange, with a £572 million valuation. [2]
Eddie Stobart Logistics subsequently acquired stakes in iForce (April 2017), [3] Speedy Freight (July 2017), [4] The Logistics People (August 2017) [5] and The Pallet Network (June 2018). [6]
In August 2019, it was announced that chief executive Alex Laffey would step down with immediate effect amid the ongoing accounting probe. He was replaced by Sebastien Desreumaux, the chief executive of subsidiary iForce and head of contract logistics at the group. [7] [8] [9] [10]
In September 2019, the company said that it had received buyout interest from Dbay Advisors. [11] [12] [13]
In October 2019, Wincanton plc expressed an interest in merging with Eddie Stobart. [14] Wincanton, later withdrew its offer, saying that it had “yet to receive full disclosure of the information requested to enable it to complete its due diligence exercise”. [15]
In November 2019, former Eddie Stobart boss Andrew Tinkler tabled a rival rescue proposal. [16] [17] DBay increased its holding in Eddie Stobart Logistics from 10% to 27% on 29 November 2019 after it bought Woodford Asset Management's stake in an off-market deal at just 6p a share. It was reported that Woodford Asset Management made a £56 million loss on the sale. [18]
In December 2019, DBay Advisors provided financial support in the form of a £55 million loan bearing interest at 18%; it also increased its shareholding to 51%. [19] [20] It was also announced that William Stobart was rejoining the business. [21] [22]
On 31 December 2020 the company was re-admitted to the Alternative Investment Market as an investing company managed by DBay Advisers with an investing policy focused on logistics assets. [23]
The company changed its name from Eddie Stobart Logistics to Logistics Development Group in February 2021. [24]
The company sold its interest in the Eddie Stobart Group to Culina Group in July 2021. [25]
Edward Pears Stobart is a British businessman who started an agriculture business in the late 1940s. This became Eddie Stobart Ltd in 1970 and expanded to a haulage company during the 1970s with the help of his late son Edward Stobart who gradually took over the running of the company. In 2004, the youngest son William Stobart and Andrew Tinkler bought the company. Eventually the company demerged and became two separate public companies: the Stobart Group and Eddie Stobart Logistics.
Guardian Media Group plc (GMG) is a British-based mass media company owning various media operations including The Guardian and The Observer. The group is wholly owned by the Scott Trust Limited, which exists to secure the financial and editorial independence of The Guardian in perpetuity.
Flybe, styled as flybe, was a British airline based in Exeter, England. Until its sale to Connect Airways in 2019, it was the largest independent regional airline in Europe. Flybe once provided more than half of UK domestic flights outside London.
Blackstone Inc. is an American alternative investment management company based in New York City. Blackstone's private equity business has been one of the largest investors in leveraged buyouts in the last three decades, while its real estate business has actively acquired commercial real estate. Blackstone is also active in credit, infrastructure, hedge funds, insurance, secondaries, and growth equity. As of June 2023, the company's total assets under management were approximately US$1 trillion, making it the largest alternative investment firm globally.
Esken Limited, formerly Stobart Group Limited, is a British infrastructure, aviation and energy company, with operations in the United Kingdom and Ireland. The company is registered in Guernsey but has its operational head office in London, England.
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Wincanton plc is a British provider of logistics with its origins in milk haulage. The company provides transport and logistics services including specialist automated high bay, high capacity warehouses, and supply chain management for businesses. It also provides container transportation and storage, warehousing solutions and related services, such as health and safety, IT services and people transition to numerous industries.
William Andrew Tinkler was the chief executive officer of Stobart Group Limited until 1 July 2017.
Stobart Air, legally incorporated as Stobart Air Unlimited Company, was an Irish regional airline headquartered in Dublin. It operated scheduled services under the brands Aer Lingus Regional, BA CityFlyer and KLM Cityhopper on behalf of their respective owners. Stobart Air had operating bases in Cork, Dublin and Belfast for Aer Lingus Regional. It ceased operations on 12 June 2021.
Edward Stobart was a British haulage company owner who first became involved with his father's company aged 15 in 1969, and subsequently expanded it into one of the UK's most well known multimodal logistics companies, Stobart Group. Edward died on 31 March 2011 in a Coventry hospital of what was termed 'heart problems'.
PostNL, formerly TNT N.V., is a mail, parcel and e-commerce corporation with operations in the Netherlands, Germany, Italy, Belgium, and the United Kingdom. It provides universal delivery in the Netherlands, and is publicly listed at Euronext Amsterdam. The company was known as TNT NV until TNT Express was separated from it in May 2011, and the remainder of the company was renamed PostNL.
James Irlam & Sons Ltd was a British road haulage company founded in the 1940s by James Irlam. It was owned and run by the Irlam family until its acquisition by rival logistics firm the Stobart Group in April 2008 for £59.9 million.
William Stobart is the Deputy Group CEO of Culina Group.
Eddie Stobart Group is a British multimodal logistics company, with interests in road haulage, rail freight, deep sea and inland waterway transport systems and deep sea port, inland port and rail connected storage facilities, along with transport, handling and warehousing facilities in the United Kingdom, Ireland and Belgium. The company has its operational head office in Warrington, Cheshire.
Stobart Rail Freight Ltd was a railway freight service operator in the United Kingdom. It came under the Rail division of Eddie Stobart Logistics, and carried intermodal freight for the group.
XYZ Rail Limited is a railway maintenance and infrastructure engineering company in the United Kingdom.
Restore plc is a company incorporated in England and Wales. The main country of operation is the United Kingdom. It is an AIM-listed support services company and has two divisions: Document Management and Relocation .Since 2010, it has expanded through the acquisition and is now driving abroad based high growth strategy based on organic growth, acquisitions and margin expansion, with the most recent large acquisitions in 2021 of Computer Disposals Ltd and EDM.
Culina Group Limited is a UK food and drink logistics company with its head office based in Market Drayton, Shropshire. It owns a number of other brands, including Eddie Stobart Group, and is a wholly owned subsidiary of Müller Group.
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