LGI Group makes another acquisition and strengthens its offer in Life Cycle Management and Technical Logistics in the UK.
Today, Elanders acquired all the shares in Bonds World Wide Holdings Limited with its subsidiaries Bonds World Wide Express Limited and Bonds Technical Couriers Limited (together “Bonds”). Bonds is a leading actor in the UK within special transportation and installation of advanced technical equipment. The company is privately owned and had net sales of some GBP 5 million in 2021 with good profitability.
In line with Elanders’ strategy of investment and growth in the Life Cycle Management area, Elanders has today signed a contract to acquire all the shares in the technical logistics company Bonds World Wide Holdings Limited. Bonds is located in Birmingham and is a major player in the technical equipment transport industry in the United Kingdom. Bonds offers an extensive range of services, including the assembly and installation of advanced technical equipment. They do this for the IT industry as well as for ITAD (IT Asset Disposition) providers, the medical sector and the retail industry. As a result of the acquisition, Elanders will be able to offer unique solutions for special transportation, and installation and recovery of advanced technical equipment. The acquisition is also a step in increasing the proportion of value-adding services, particularly to customers in Electronics and Healthcare & Life Science. Bonds will become part of the business area Supply Chain Solutions and be a subsidiary to Elanders’ subgroup LGI.
“We are convinced that we will work in great synergy with the team at Bonds, as we share the same passion for high-tech logistics. The acquisition of Bonds will further strengthen Elanders’ international footprint and brings good synergies with the existing activities in the UK”, says Bernd Schwenger, CEO and President of LGI.
Bonds will be consolidated into the Elanders Group as of 1 July 2022. The purchase price is approximately GBP 5 million on a cash- and debt-free basis, if IFRS 16 effects are excluded from the debt. The major part of the purchase price will be paid in the third quarter. The acquisition is financed through existing credit facilities and the acquisition cost is estimated to be less than SEK 2 million.