DMH Stallard has advised the shareholders of Cargostore Worldwide Trading on their £24m secondary management buyout by clients of Connection Capital, a specialist private client investment business.
£7.5m of the private capital will support growth in offshore wind, oil and gas, international aid and defence markets.
Cargostore is a global container specialist operating from London and Abu Dhabi, with 30 strategically positioned storage facilities and depot locations around the world to service its diversified blue-chip international customer base.
Kate Norgett, Partner at DMH Stallard, who led the team advising Cargostore, said: “This exit is the culmination of three years’ work and I am delighted to have helped Cargostore achieve it. Most satisfying of all, the next phase of their growth plans will be underpinned by this new investment.”
Justin Farrington Smith said: “Connection Capital’s investment will be instrumental in enabling us to consolidate our competitive advantage and leverage favourable market dynamics to deliver our future growth plans. With a healthy pipeline of new business opportunities for 2020, building on a core base of long-standing customer relationships, it’s a great position to be in as we enter this new decade.”