EmergeVest creates EV Cargo

Private equity firm EmergeVest has grouped together six UK logistics operators to create a new company, EV Cargo. The consolidation of Adjuno, Allport Cargo Services, CM Downton, Jigsaw, NFT and Palletforce into a single corporate structure has created one of the UK’s largest logistics providers. The company will specialise in transport, logistics and freight forwarding services and logistics technology, operating in more than 120 countries. Combining the six company’s revenues equals £850m annually.

The new firm will feature a core asset-based UK logistics network totalling 9m sq ft of warehousing space and 20,000 delivery vehicles; a team of 5,000 UK based logistics professionals including 2,200 truck drivers; 175 UK operating centres and 18 overseas operations; and international logistics operations managing 200,000 containers of sea freight annually and 6m kg air freight monthly.

Each company will retain its identity and will still be acknowledged in its respective field. EV Cargo comprises of four main operating segments: Express, Global Forwarding, Logistics and Technology. Under a group structure, EV Cargo will adopt a cargo-centric approach, focussing on customer needs across the supply chain.

The EV Cargo executive board will be led by EmergeVest founder Heath Zarin as Chief Executive Officer, supported by Chief Strategy Officer Simon Pearson, General Counsel Mark Davis and the Chief Executives of the four main operating segments.

Heath Zarin, EmergeVest Founder and CEO of EV Cargo, said, “We are excited to announce the creation of EV Cargo, bringing together our UK logistics and technology platform into a unified corporate structure. These six firms are all “best in class” in their respective areas of specialisation and bringing them together is highly complementary. And although these are UK firms our business is global, operating in more than 120 countries. EV Cargo will continue our existing strategy of delivering mission-critical supply chain services powered by people, technology, innovation and sustainability. By working closer together and creating additional capabilities, we will provide new and existing customers with access to a wider range of leading-edge integrated solutions.”

Sources: NFT and EmergeVest