Lower mid-market private equity firm NorthEdge has completed the sale of Abbey Logistics Group (Abbey), a specialist logistics provider, to Belgium based food logistics specialist Sitra Group (Sitra).
Sitra is a family-owned business with a 2022 turnover of €165m employing over 1,150 people across 11 countries, including the UK. The company operates 700 owned trucks and over 2,000 trailers/containers including liquid and powder food tankers.
Abbey is a UK based specialist logistics provider, specialising mainly in the food industry, with a turnover of £75m employing close to 600 people and operating 325 trucks and 550 trailers.
The exit, which was led from NorthEdge’s Manchester office by Jon Pickering, Partner and CIO, and Dan Matkin, Director, alongside the Abbey management team, represents the seventh exit from NorthEdge Fund II.
NorthEdge was advised by KPMG (Corporate Finance – Christian Mayo, Mark Booth, Gary Chiang) and DWF (Legals – Jonathan Robinson, Katy Philips, Eleanor Chatterton).
