May 06, 2021
Lexington Corporate Finance (“Lexington”) is pleased to announce that it has acted as the sole Corporate Finance Advisor to the shareholders of A.I.M Logistics Limited (A.I.M), one of the UK’s leading providers of cold chain logistics services, on its sale to UK based Fowler Welch, a subsidiary of the Culina Group.
A.I.M, established in 2004 and based in Evesham, specialises in chilled distribution of fresh produce for a range of national producers, consolidating and delivering to national retailers, wholesalers and foodservice businesses.
Fowler Welch is a leading player in the cold chain logistics space in the UK, with seven national depots strategically located around the country. Fowler Welch was acquired by Culina Group in May 2020 for £98m. The acquisition of A.I.M represents a good strategic fit with the rest of the Fowler Welch network and establishes a geographical presence in another key produce growing region that will enable the combined business to benefit from significant synergies.
Lexington acted as the lead advisor and presented the opportunity to a number of potential domestic and international acquirers. Fowler Welch emerged as the best strategic acquirer for the business and provided a home for the A.I.M business to thrive. The Lexington team was led by Tom Coombes with support from Pablo Shorney and Adam Thomas-Brown, who together managed interactions with all the potential acquirers, negotiated terms and steered the process through to successful completion.
Ismail Elmagdoub, Managing Director of A.I.M, said “We appointed Lexington to manage the sale process, allowing both myself and Ahmed to concentrate on delivering record results for the business. Tom and the team effectively managed the entire process, provided us with detailed support throughout the process, whilst maintaining the highest level of confidentiality. We were extremely happy with their conduct throughout and would like to thank them for such a fine job!”
Tom Coombes, Associate Director, said “It was a pleasure leading the Lexington team to deliver such a positive result for the shareholders. Ismail and Ahmed, along with their parents before them, have successfully built a fantastic business based in Evesham and this transaction delivers the rewards they deserve for continued years of hard work. Fowler Welch was the standout acquirer for the business and this will allow A.I.M to continue to grow from strength to strength under its stewardship.”