Tibbett and Britten

Last updated

Tibbet & Britten Group plc
Fate Absorbed into Exel
Defunct 2004
Revenue £1.63 billion (2003) [1]
Number of employees
39000 (2003) [1]

Tibbet & Britten Group plc was a logistics company based in the United Kingdom.

History

The company's origins are traced to a transport division of Unilever which became independent through a management buyout in 1986. The company grew over the next two decades by acquisition and organic growth, including growth through expansion of contracts with existing large clients as their companies expanded; [1] from 1990 to 2004 the company increased its revenue by ten. [2]

Unilever Anglo-Dutch multinational consumer goods company

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A management buyout (MBO) is a form of acquisition where a company's existing managers acquire a large part or all of the company from either the parent company or from the private owners. Management and leveraged buyouts became phenomena of the 1980s. MBOs originated in the US and traversed the Atlantic, spreading first to the UK and throughout the rest of Europe. The venture capital industry has played a crucial role in the development of buyouts in Europe, especially in smaller deals in the UK, the Netherlands, and France.

The company operated primarily in North America and Europe, as well as in other locations in Africa, Asia and South America. The company provided warehousing, distribution, and supply chain management services, as well as operating rail terminals in the UK. Materials transported by the firm included consumer and perishable goods. [3]

In 2004 the company was acquired by Exel for £328 million; a 36% premium on the share price. [1] [4]

Exel

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References

  1. 1 2 3 4 "Tibbett & Britten (Acquired by Exel 2004)", www.supplychainleaders.com
  2. Donald Waters (2010), Global Logistics: New Directions in Supply Chain Management, Kogan Page Publishers, p. 414
  3. "Tibbett & Britten Group plc", investing.businessweek.com, Bloomberg LP
  4. Michael Harrison (17 June 2004), "Tibbett & Britten chiefs share £5m takeover windfall", www.independent.com, The Independent