The acquisition of Hastings-based Dobbs Logistics by Palletforce, the leading pallet network distribution business with operations across Europe. Palletforce is part of EV Cargo, the Hong Kong-headquartered global freight forwarding and supply chain services group backed by EmergeVest. Formed in 1961, Dobbs Logistics has a long history of providing pallet distribution, general haulage, project cargo and warehousing services, and is the stand-out pallet network member and road freight operator in a region that has proved challenging for pallet networks. The former owners will continue to lead the business post acquisition. The acquisition forms part of Palletforce’s strategy to strengthen its network and secure unrivalled quality and delivery performance in all postcodes, providing a sustainable platform from which its members can enable their long-term growth strategies.
Having worked with the Palletforce team on a number of previous transactions, we were able to quickly fit into their transaction team and use our strong project management skills to co-ordinate multiple parties to deliver the transaction. Our role included leading negotiations with the vendors, managing due diligence streams, establishing net debt and normalised working capital in order to calculate the final consideration payable, and assisting with the preparation of the investment case for the EV Cargo investment committee.
WHAT OUR CLIENT SAID:
‘Having worked with Cattaneo on a number of previous transactions, we know that they understand the way in which we work and so trust them to integrate effortlessly into our team and lead the process for us, allowing us more time to spend on other aspects of the transaction as well as our day jobs. Their understanding of our business, strategy and market and their skills in corporate dealmaking were again evident on this transaction.’
Mark Tapper, Chief Operating Officer Palletforce