Pictured Left to Right: Martin Carr, Ray Cole, Alan Hoyne, Shane Cole
Virginia International Logistics (“Virginia”) announced on August 14th the acquisition of Allmed, an Irish business providing European freight forwarding services. The acquisition brings together two family founded Irish businesses with complimentary capabilities, customer lists and service offerings into a group with combined Revenues of €70m.
The acquisition is subject to clearance from the Irish Competition and Consumer Protection Commission.
Virginia, which is backed by MML Growth Capital Partners Ireland, has a fleet of over 125 trucks and 360 trailers operating throughout Ireland, the UK and Europe, extensive warehousing facilities and services in Maghera, Co. Cavan, Kells, Co. Meath, Dublin and Tamworth (UK). Virginia also has a dedicated customs team and 24/7 logistics team.
Allmed has an extensive Freight Forwarding network and a 30 strong team of experienced and knowledgeable logistics and customer service professionals based in Thomastown, Co. Kilkenny.
Ray Cole, CEO of Virginia International logistics, said:
“We are pleased to welcome Allmed into the Virginia Group. This is an important strategic and complimentary acquisition which will allow us to build on the momentum we have generated over recent years. We have been highly impressed with the Allmed team throughout the process. From very early the shared ambition and vision for significant collaboration and growth was there for all to see.”
Alan Hoyne, Allmed Founder, said:
“We are very excited to become part of the Virginia Group. Virginia is an Irish family business, like Allmed, sharing similar values and ambitions. Virginia is the perfect fit for Allmed to fulfil its long-term goals and vision for the future and we could not be entrusting our business to better people.
Martin Carr, Managing Director of Allmed, said:
“This acquisition of Allmed by Virginia marks a historic and exciting milestone for all of us. Together we will form a stronger business, drive further growth and innovation, and create more value for our employees, customers and stakeholders. We are thrilled to complement our service offerings with the additional resources, capabilities and scale of Virginia for our customer benefit”
The acquisition creates a “one stop shop” for customers’ transport, distribution and warehousing needs. The ambition of both businesses is to continue growth achieved to date, continue providing first class customer service, invest further in technology and facilities, extend our value-add service offerings to Irish, UK and European markets and provide more opportunity for our employees.
The acquisition has been supported by the existing Virginia’s shareholders, which includes MML Growth Capital Partners Ireland and the Cole family and the Group’s banking partner, Bank of Ireland.
This press release was provided by Allmed, full-trading members of IIFA.
