Business Services
Fennimore Logistics
Temperature-controlled distribution, exited 2023
Investment thesis
Fennimore held scarce cold-store capacity in a market with rising food safety requirements. Over our hold period the business converted a regional depot network into a national proposition, before being acquired by a strategic buyer in 2023.
Partnership highlights
- Fleet electrification programme begun ahead of sector peers
- Two depots acquired and integrated
- Employee bonus pool paid on exit to all staff
- Exited to a strategic acquirer in 2023
“Nine years of steady building, then one clean process.”