FDBusiness.com

Supply chain expert Cold Move Ltd has announced the completion of its management buy out, in a €4.5 million deal structured by Donworth Capital.  Cold Move provides temperature controlled and ambient supply chain management services to retailers, manufacturers, brand owners and food service operators.  This secures over 100 jobs (60 direct employees) in four facilities based in Galway and Dublin, servicing customers in Ireland, the UK and Europe.

Managing director Jason Mallon joined the business at its inception in 2005 and together with senior management has partnered with John Casey of Donworth to structure the acquisition which was part financed by Bank of Ireland.  Cold Move recorded turnover of €7.6 million in 2014 and is forecast for continued growth.

Donworth Capital, established in 2012 by senior industry professionals John Casey and Peter Strange, invests in businesses with growth potential and provides strategic corporate advice to businesses on mergers, acquisitions and restructuring.

Jason Mallon comments: “Cold Move is now well placed to continue its development as a leader in the supply chain sector. The re-structuring brings expertise and a well-financed balance sheet, enabling the development of our business. The team would like to thank Donworth for their on-going support through the process and welcomes John as Chairman of the Board of Cold Move.”