Logistics Development Group plc, formerly Eddie Stobart Logistics plc, is an investment company with interests in the logistics industry.

History

In March 2014

Stobart Group Esken Limited (), formerly Stobart Group Limited, is a British infrastructure, aviation and energy company, with operations in the United Kingdom and Ireland. The company is registered in Guernsey but has its operational head office in Londo ...

announced its intention to re-position itself as an support services business, with the announcement of the sale of its original transport and distribution business to Dbay Advisors Limited (formerly Douglas Bay Capital) for £280.8 million: Dbay Advisors secured a 49% stake in the newly formed business Eddie Stobart Logistics. William Stobart left his position as Chief Operating Officer the Stobart Group to become Chief Executive Officer of Eddie Stobart Logistics. In April 2017, Eddie Stobart Logistics regained a public listing when it floated on the

Alternative Investment Market AIM (formerly the Alternative Investment Market) is a sub-market of the London Stock Exchange that was launched on 19 June 1995 as a replacement to the previous Unlisted Securities Market (USM) that had been in operation since 1980. It allows ...

of the

London Stock Exchange London Stock Exchange (LSE) is a stock exchange in the City of London, England, United Kingdom. , the total market value of all companies trading on LSE was £3.9 trillion. Its current premises are situated in Paternoster Square close to St Pau ...

, with a £572 million valuation. Eddie Stobart Logistics subsequently acquired stakes in iForce (April 2017), Speedy Freight (July 2017), The Logistics People (August 2017) and The Pallet Network (June 2018). In August 2019, it was announced that chief executive Alex Laffey would step down with immediate effect amid the ongoing accounting probe. He was replaced by Sebastien Desreumaux, the chief executive of subsidiary iForce and head of contract logistics at the group. In September 2019, the company said that it had received buyout interest from Dbay Advisors. In October 2019,

Wincanton plc Wincanton plc is a British provider of logistics with its origins in milk haulage. The company provides transport and logistics services including specialist automated high bay, high capacity warehouses, and supply chain management for busines ...

expressed an interest in merging with Eddie Stobart. Wincanton, later withdrew its offer, saying that it had “yet to receive full disclosure of the information requested to enable it to complete its due diligence exercise”. In November 2019, former Eddie Stobart boss Andrew Tinkler tabled a rival rescue proposal. DBay increased its holding in Eddie Stobart Logistics from 10% to 27% on 29 November 2019 after it bought Woodford Asset Management's stake in an off-market deal at just 6p a share. It was reported that Woodford Asset Management made a £56 million loss on the sale. In December 2019, DBay Advisors provided financial support in the form of a £55 million loan bearing interest at 18%; it also increased its shareholding to 51%. It was also announced that William Stobart was rejoining the business. On 31 December 2020 the Company was re-admitted to the

as an investing company managed by DBay Advisers with an investing policy focused on logistics assets. The company changed its name from Eddie Stobart Logistics to Logistics Development Group in February 2021. The company sold its interest in the

Eddie Stobart Group Eddie Stobart Group is a British multimodal logistics company, with interests in road haulage, rail freight, deep sea and inland waterway transport systems and deep sea port, inland port and rail connected storage facilities, along with transpor ...

to Culina Group in July 2021.

References

{{Reflist Companies based in Cheshire Companies listed on the London Stock Exchange