Panther agree to £17 million management buy-out
Livingstone’s Business Services team has advised Panther Logistics, the UK’s largest independent two-man next day home delivery provider, on a £17m management buy-out backed by LDC. Headquartered in Northampton, Panther specialises in supplying household furniture, white goods and other high value items including bedroom, bathroom, fitness, garden and office products. Panther offers UK-wide coverage via a network of eight strategically located regional hubs, a fleet of 300 fully-liveried vehicles and a market leading proprietary IT platform.
With the continued growth of online shopping and a reputation for customer focus and service excellence, Panther has more than doubled sales in the last two years to almost £30million.
Following LDC’s investment, Panther plans to continue to invest in its operations and develop new service innovations to support its customers. As part of the transaction, LDC has acquired a significant minority shareholding in the firm, enabling its founder, Wilson Barrett, to retire.
Colin McCarthy, managing director of Panther, said: “This is an exciting point in the business’s journey for our employees and customers alike. Bringing on board an experienced investment partner like LDC provides a springboard for further growth and investment.
“I would like to thank Livingstone who were tireless in pursuit of our objectives throughout the process. Their dedication and hands-on approach allowed us to remain focused on day-to-day running of the business – we are delighted with the outcome.”
Rob Schofield, investment director at LDC, commented: “Panther is a great example of the type of business we’re keen to support. It has successfully positioned itself at the forefront of the fast-growing specialist delivery sector, capitalising on consumer trends that have seen delivery service come to the fore. The firm has a highly experienced management team led by Colin McCarthy, and we look forward to working with them to support their ambitions for further growth and development.”
