Permira Credit Solutions II acts as sole lender to Kinaxia Logistics to support acquisition strategy

19 May 2015

Permira Debt Managers (“PDM”), the debt management and advisory arm of Permira and one of Europe’s leading specialist debt investors, today announces that direct lending fund Permira Credit Solutions II will act as sole lender to Kinaxia Logistics to support the acquisition of Foulger Transport Limited and Lambert Brothers Haulage Ltd.

£25m long-term investment loan provided and arranged by Permira Credit Solutions II will be used to support the acquisition of Foulger and Lambert Brothers adding to the previously completed acquisitions of Bay Freight Limited, William Kirk Limited and NC Cammack & Son Limited.

Kinaxia Logistics operates in the UK warehouse, haulage and logistics sector, with a strategy to create a new leading scale player in a highly fragmented industry. Kinaxia provides warehousing and logistics solutions to businesses across the UK, specialising in palletised road haulage.

Thomas Kyriakoudis, Chief Investment Officer of Permira Debt Managers, said: “We are delighted to back the Kinaxia management team and its plans to consolidate the UK road haulage industry. The 5 companies acquired to date are all family owned businesses with decades of history and strong local market knowledge. Kinaxia looks to build on these strengths, maintaining the local identity of each firm, while seeking efficiencies such as load optimisation, centralised purchasing and driver training.”

Kinaxia is one of six investments of Permira Credit Solutions II (PCS2) to date.

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