February 2014

  • Client : Polar Speed
  • Activity : Cold Chain Pharmaceutical Delivery
  • Sector : Healthcare
  • Acquired by: UPS

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  • “We have greatly enjoyed working with Cavendish over the past few years. As a family owned business, we definitely needed good advice and we felt very well supported by the team at Cavendish. I never imagined we would end up with an Estonian buyer but it is clear that there is an excellent fit with PR Foods, which will be good for the business, our customers and suppliers and for Chris and...

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  • “This new investment and partnership is a very exciting opportunity for myself and our fantastic management team to both consolidate and nurture our existing long-term client relationships as well as attract and develop new clients. Many thanks to the Cavendish team who provided invaluable advice throughout the process and helped us achieve this great outcome for the...

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  • Thank you so much for your efforts and teamwork in selling RPS! Your approach and process was vital to our successful sale of the Company. In particular, the initiation of a excellent and professional process enabled us to get the actual sales process launched and resourced effectively, which facilitated the smooth initiation of selling discussions in a thorough...

    Adrienne MacMillan | CFO Rapidscan Pharm Solutions Inc
  • “This marks a significant opportunity for our partners, customers and people as we become part of the global Kyocera family and continue the journey we started back in 1988. When looking for an advisor we wanted someone with an international network and experience of working with buyers both here and overseas. Cavendish had the expertise to facilitate the transaction and the support they...

    Andrew Harman | co-founder of Annodata
  • I’d like to warmly congratulate Jonathan Buxton, Michael Jewell and the team at Cavendish on the successful sale of Tristar Worldwide Ltd to the Addison Lee Group. I’d like to place on record our gratitude for their international reach, sound advice, good humour and professional service which was greatly appreciated by all parties. It was a real pleasure to work with them on this...

    Andy Nash | Chairman of Tristar Worldwide
  • The Cavendish Team, led by Michael Jewell, did an excellent job managing a well-orchestrated auction process and ensuring the smooth closing of the transaction in a timely manner. They were professional and easy to deal with throughout and committed to achieving a successful outcome for the...

    Rhian Griffith | Representative of the Shareholders at SG Court
  • The Cavendish team worked seamlessly with their international partners to find the right buyer and guide us through every step of the sale process. This is a great outcome for both the shareholders and ongoing management team. We would happily recommend Cavendish to other business...

    Ben Lane | Co-founder of ALC
  • “It was a great pleasure to be working with Cavendish again, following the Aurum sale process. The Cavendish team worked hard and were very committed to achieving the best result for the shareholders and then closing the deal. I am delighted to be partnering with Freshstream, who are the ideal partner to take Radley onto the next...

    Justin Stead | CEO of Radley
  • “This is an exciting deal for our business. Baird Capital’s experience and resources will be invaluable as we seek to further enhance our services and global reach. Baird’s deep understanding of the financial services industry and its global network will be valuable as we look to drive our growth both domestically and abroad. Our improved capabilities will also help us better serve our...

    David Vafai | Founder and CEO of bfinance

Cavendish Corporate Finance is delighted to announce the sale of leading thermo logistics firm Polar Speed to the world’s largest logistics company UPS. Founded in 1996, Polar Speed specialises in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers and surgery centres as well as end patients.

Polar Speed uses a fleet of 118 actively monitored temperature-controlled vehicles for transporting both 2-8 degrees celsius refrigerated and 15-25 degrees celsius products in accordance with UK guidelines for medicines and healthcare products (MHRA). The fleet has on-board temperature recorders and alarms to alert drivers of potential temperature excursions as well as a PolarTrack, an online portal linked to a satellite navigation system allowing customers to access real-time delivery status and temperature conditions of their products

The acquisition adds three facilities to UPS’s global healthcare network, now totalling 45 facilities and is a key part of its strategy to strengthen its healthcare network across Europe.

The combined solutions of Polar Speed and UPS will provide a high-quality service to UK customers as well as providing Polar Speed employees with the opportunity to build on the growth momentum UPS has realised in the healthcare market.

Gordon Hamilton, the Cavendish healthcare partner who led the sale commented:

“We believe UPS will accelerate the growth of the business and enabling it to take full advantage of the opportunities generated by the increasing need for temperature-controlled distribution in the healthcare sector. Further consolidation, mergers and acquisitions are expected in the sector”.

Commenting on the transaction, Alan Cheshire former Chairman and a founding shareholder of Polar Speed said:

“Gordon and Mike have built a strong relationship with the shareholders over the last three years, helping us to identify the right potential strategic partner and clearly articulating the strategic rational.

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