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.”
Other deals in the Healthcare sector:
|Vendor & Client||Acquirer / Investor|
|Polar Speed||UPS||view deal|
|Barbican Dental Care||BUPA||view deal|
|Kent Pharmaceuticals||DCC||view deal|
|Double Helix Bio-Technology Limited||McCann Health, part of The Interpublic Group of Companies Inc New York||view deal|
|YorkTest Laboratories Limited||Ingemino Limited||view deal|
|Finsbury Orthopaedics||DePuy Orthopaedics Inc.||view deal|
|Healthcare company||Debt advisory||view deal|
|SENAD Group||Undisclosed||view deal|