Cold Move completes management buyout in €4.5m deal
Re-structuring brings expertise and a well-financed balance sheet, says managing director Jason Mallon
Print18 March 2015
Supply chain company Cold Move Ltd has completed its management buyout, in a €4.5m deal structured by Donworth Capital.
Cold Move provides temperature controlled and ambient supply chain management services to retailers, manufacturers, brand owners and food service operators. This provides over 100 jobs, including 60 direct employees, in four facilities based in Galway and Dublin, servicing customers in Ireland, the UK and Europe. The group’s clients include Iceland, Lidl, Londis, Glanbia, Green Isle and Dealz.
Managing director Jason Mallon joined the business at its inception in 2005 and together with group operations director Stephen Gillen, partnered with Donworth to structure the acquisition which was part financed by Bank of Ireland. Cold Move recorded a turnover of €7.6m in 2014 and is forecast to record continued growth.
Donworth Capital, established in 2012 by senior industry professionals John Casey and Peter Strange, invests in businesses with high growth potential and provides strategic corporate advice.
Jason Mallon commented: “Cold Move is now well placed to continue its development as a leader in the supply chain sector. The re-structuring brings expertise and a well-financed balance sheet, enabling the development of our business. The team would like to thank Donworth for their ongoing support through the process and we welcome John Casey to the board of Cold Move.”
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