French logistics group DESLOG has acquired County Durham-based supply chain specialist NFS360 Connect, marking DESLOG’s first UK acquisition. The terms of the deal were not disclosed. This move is part of DESLOG’s strategy to navigate complex post-Brexit customs requirements and strengthen its presence in the UK market.
NFS360 Connect, originally established as Northern Freight Services in 1978 by David Lawson, has grown into a significant player in logistics and warehousing. Headquartered in Peterlee, the family-run business operates with 34 trucks, 48 trailers, and employs over 90 staff across four depots. The company also manages 250,000 square feet of warehousing and nine acres of external storage space.
For the year ending 30 September 2023, NFS360 reported revenues of £11.2 million, up from £10.9 million the previous year, though pre-tax profits fell to £551,177 from £1.2 million.
DESLOG, based in Dunkirk, cited NFS360’s strategic locations, well-established logistics network, and strong customer base as key factors in the acquisition. The group aims to leverage these assets to enhance its expertise and capabilities in navigating Europe’s complex freight customs requirements.
Michael Banks, the current Managing Director of NFS360, will continue to lead the company under DESLOG’s ownership. Ian Lawson, an NFS360 shareholder, expressed optimism about the acquisition, stating it represents a new chapter for the business, accelerating growth and enhancing service offerings.
Patrick Guermeur, Managing Director of Groupe DESLOG, praised NFS360’s reputation in the UK logistics sector and emphasized the alignment between the two companies’ cultures and growth strategies.
Evolve Corporate Finance, led by Justin Sparks and supported by Doug Allan, advised NFS360 on the sale. Lawson commended Evolve’s role, highlighting their professionalism and deep understanding of the business. Justin Sparks noted that the sale to DESLOG positions NFS360 to capitalize on future market opportunities, particularly in the post-Brexit landscape.
Legal advice for the sellers was provided by Sintons, with Adrian Dye and Daniel Earle leading the team. HCR Law, led by Alison Scott and supported by Alex Stenson, advised the buyers, while Ballards handled financial, tax, and IT due diligence.
