NorthEdge Capital has invested an undisclosed eight-figure sum for a significant majority stake in the business, to support an MBO led by CEO Steve Granite.
Abbey specialises in the transportation of bulk food products in liquid and powder tankers across the UK and Northern Europe.
The group was set up more than 25 years ago by the Lucy family, specialising initially in the liquid food ingredients transportation market, with more recent diversification into the bulk powder market.
Steve Granite, chief executive at Abbey Logistics, said: “It is an exciting new chapter in the company’s life and we are very much looking forward to continuing the successful journey we have experienced to date.
“Our customers and employees will see the benefit as having a new partner on board will enable us to develop our business and continue growing from solid foundations.
“Through organic and acquisitive growth, Abbey will become the market leader in both the liquid and powder transportation markets in the UK.”
Abbey has demonstrated strong year-on-year growth over the past five years with turnover more than doubling from £20m to over £55m in the current financial year following a number of acquisitions and large contract wins.
The business employs over 450 staff and operates from nine UK sites including Wirral, Hull, Manchester, Knowsley, Middlewich and London.
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