{"id":691,"date":"2018-06-05T15:28:48","date_gmt":"2018-06-05T15:28:48","guid":{"rendered":"https:\/\/www.delamode-group.com\/?p=691"},"modified":"2018-06-05T15:28:48","modified_gmt":"2018-06-05T15:28:48","slug":"xpediator-plc-acquires-anglia-forwarding-group-limited","status":"publish","type":"post","link":"https:\/\/delamode-group.com\/en\/xpediator-plc-acquires-anglia-forwarding-group-limited\/","title":{"rendered":"Xpediator Plc acquires Anglia Forwarding Group Limited"},"content":{"rendered":"<div class=\"content-wrapper\">\n<div class=\"region region-content clearfix\">\n<div id=\"1\" class=\" block block-system clearfix\">\n<div id=\"node-420\" class=\"node node-news-article clearfix\">\n<div class=\"content\">\n<div class=\"field field-name-body field-type-text-with-summary field-label-hidden\">\n<div class=\"field-items\">\n<div class=\"field-item even\">\n<p><a href=\"http:\/\/www.xpediator.com\/\" target=\"_blank\" rel=\"noopener\">Xpediator<\/a>, (AIM: XPD), Delamode&#8217;s parent company, is pleased to announce it has entered into an agreement to acquire the entire issued share capital of Anglia Forwarding Group Limited (\u201cAFGL\u201d), a UK-based international freight forwarder with road, sea and freight capabilities (the \u201cAcquisition\u201d).<\/p>\n<p>The initial cash consideration payable upon completion is \u00a31.5 million, plus a further cash payment reflecting AFGL\u2019s surplus working capital position at completion estimated to be approximately \u00a3700,000. Deferred cash consideration of up to \u00a32.0 million may also be payable contingent on profits generated by AFGL over the two years ending 31 May 2020.<\/p>\n<p>The Acquisition is Xpediator\u2019s third acquisition since IPO and the board expects it will be earnings enhancing immediately.<\/p>\n<p><strong>Acquisition highlights<\/strong><\/p>\n<ul>\n<li>AFGL is a complementary acquisition that presents good cross-selling opportunities and operational synergies<\/li>\n<li>AFGL generated unaudited revenue of \u00a313.5 million and normalised operating profit in excess of \u00a3400k for the year ended 31 July 2017<\/li>\n<li>The consideration will be funded from existing resources<\/li>\n<li>Based in the UK, AFGL operates domestically and internationally, with headquarters and warehousing in Rainham, Essex and branches in Birmingham, Felixstowe, and Heathrow airport<\/li>\n<\/ul>\n<p>On completion, the enlarged Group will operate from 10 sites in the UK together with 11 European offices employing 781 people.<\/p>\n<p><strong>Anglia Forwarding<\/strong><\/p>\n<p>AFGL is an international freight forwarding and courier business established over 40 years ago with headquarters in Rainham, Essex. Through their association with United Shipping Inc, a worldwide association of agents, the business is able to offer sea and air freight services to the US, China and Europe.\u00a0 The group also has well established European road routes.<\/p>\n<blockquote>\n<p>Peter Tough, Anglia Forwarding Group Limited CEO, said,<\/p>\n<p>\u201cSince its foundation in 1971, Anglia has grown to be a highly successful international forwarder offering a high standard of service to clients. By becoming part of Xpediator Group we will be able to make use of being part of a larger group to expand our business and provide additional services to our existing client base.\u201d<\/p>\n<p>Stephen Blyth, Xpediator CEO, commented,<\/p>\n<p>\u201cAnglia Forwarding is an exciting addition to the Xpediator Group, which will significantly strengthen our air and sea freight operations as well as add complementary European road routes. From Xpediator\u2019s side, we will be able to offer Anglia\u2019s customers the complete range of our services, especially warehousing and fulfilment which we believe can add significantly to the Anglia business.<\/p>\n<p>\u201cThe presence of Anglia\u2019s dedicated air freight office at Heathrow, combined with their longstanding position as global partner to United Shipping since 1988 will be a valuable addition to the Group and will significantly increase our access into the key markets of America and China.<\/p>\n<p>The Group overall is trading in line with market expectations which is pleasing and in operational terms we are successfully integrating our recent acquisitions. We expect to realise the benefits of our cross-selling opportunities, particularly at Benfleet where the increasing customs security checks across the EU has affected the development of its Far Eastern business. I am looking forward to integrating Anglia\u2019s services into the business and thereby enhancing the Group\u2019s earnings.\u201d<\/p>\n<\/blockquote>\n<p><strong>Potential Acquisition Benefits<\/strong><\/p>\n<ul>\n<li>Expansion of the Group\u2019s air and sea freight activities<\/li>\n<li>Presence at Felixstowe in one of the few, purpose-built freight, Customs approved, independently owned and operated terminals in the UK<\/li>\n<li>Consolidation of the Group\u2019s exports to the Rainham cross dock facility which will be managed in conjunction with Cargo Marketing Services Limited under a joint venture agreement<\/li>\n<li>Expected synergies through providing warehousing and fulfilment services<\/li>\n<li>Well established road routes that are complementary to the existing Group services<\/li>\n<li>Peter Tough, CEO of AFGL, will continue as a consultant and all other senior management and employees of AFGL to be integrated with the Group,<\/li>\n<li>The amount of further consideration is wholly dependent upon AFGL\u2019s profits for the two years ending 31 May 2020<\/li>\n<li>Branch office in Birmingham extending the Group\u2019s UK coverage.<\/li>\n<\/ul>\n<h4>Delamode is part of Xpediator Plc\u00a0<\/h4>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div id=\"3\" class=\"twitter block block-block clearfix\">\u00a0<\/div>\n<\/div>\n<\/div>\n<div class=\"sidebar clearfix\">\u00a0<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Xpediator, (AIM: XPD), Delamode&#8217;s parent company, is pleased to announce it has entered into an agreement to acquire the entire issued share capital of Anglia Forwarding Group Limited (\u201cAFGL\u201d), a UK-based international freight forwarder with road, sea and freight capabilities (the \u201cAcquisition\u201d). The initial cash consideration payable upon completion is \u00a31.5 million, plus a further [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-691","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Xpediator Plc acquires Anglia Forwarding Group Limited - Delamode Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/delamode-group.com\/en\/xpediator-plc-acquires-anglia-forwarding-group-limited\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Xpediator Plc acquires Anglia Forwarding Group Limited - Delamode Group\" \/>\n<meta property=\"og:description\" content=\"Xpediator, (AIM: XPD), Delamode&#8217;s parent company, is pleased to announce it has entered into an agreement to acquire the entire issued share capital of Anglia Forwarding Group Limited (\u201cAFGL\u201d), a UK-based international freight forwarder with road, sea and freight capabilities (the \u201cAcquisition\u201d). 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