The Board of Stobart Group Limited announces a partial realisation of its Transport and Distribution Division. Going forward the Group will focus on exploiting the potential of its Infrastructure and Support Services Divisions. The Transaction will position the Group to repay substantially all of its debt, accelerate the growth of the Continuing Group and buy back a proportion of its shares.
William Stobart will leave the Group Board and lead Eddie Stobart Logistics as CEO, driving growth in the business as a private company
Stobart Group proposes to retain, from the Transport and Distribution Division
· the Eddie Stobart Brand through a licence agreement
· the biomass transport operations (8% of the vehicle fleet) to integrate into its Stobart Biomass fuel supply business
· the majority of the freehold properties used by the Transport and Distribution Division
I’m trying to understand all the bull crap in there, but my understanding is, nothing has happened and accountants are playing with numbers on a screen?
Looks like all the debt that has been built up is all getting lumbered on one part of the company protecting the rest of the company like the airports and biomass and rail etc.
Yes. Just reading this elsewhere and thought I would head here. Its been sold to a private investment group called DBay, the former owners of TDG before they sold it to Norberts. I didn’t know that they were not in private hands which now begs the question…how can you sell something you do not own ?
I also see they have kept hold of 8% of the trucks, basically splitting them up from the rest of the fleet to maintain the profitable sides of the company such as biomass etc.
Very interesting but not sure what the big picture is.
Stobart Group have sold 51% of the Transport side of the business (Eddie Stobart Logistics) to a firm of fund managers called DBAY (use to own TDG). W.Stobart will leave Stobart Group and become CEO of ESL. Stobart Group retains 49% of ESL.
DBAY are based on the Isle of Man - so pay very little tax then!!
The money from the sale of the 51% will be used to repay debts and make Stobart Group almost debt free. They will then concentrate of Biomass, Rail & Air etc. Plus retain the commercial use of the Stobert name.
Does it mean that Tinkler & W.Stobart have fallen out…?
is this the same ■■? , (on a facebook page) ““Britain’s best-known trucking company could fall into German hands after it was revealed that Eddie Stobart is up for sale.
It is understood that Stobart Group, the company behind the green trucks that each carry a woman’s name, is close to selling 51 per cent of its transportation interests.
It is believed that the buyer could be DB Schenker, the German rail and road logistics group that is part of the state-owned transport giant Deutsche Bahn.””
I predicted this a while ago but now looks more likely than ever, in 10 years the Stobart name on trucks will be a memory. This strikes me as either Stobart Group needed the money or Stobart Logistics was dragging the rest of the group down, or both.
Theres little profit in general haulage so i guess it makes sense to seperate it but i aggree with switch that the stobart name will disapear like many famous names through further mergers aquisitions and rebrands.
Trukkertone:
is this the same ■■? , (on a facebook page) ““Britain’s best-known trucking company could fall into German hands after it was revealed that Eddie Stobart is up for sale.
It is understood that Stobart Group, the company behind the green trucks that each carry a woman’s name, is close to selling 51 per cent of its transportation interests.
It is believed that the buyer could be DB Schenker, the German rail and road logistics group that is part of the state-owned transport giant Deutsche Bahn.””
i smell a fiddle…
I think somebody on facebook has made an incorrect guess, assuming that DBAY is Deutsche Bahn, who they have heard of, rather than Douglas Bay Capital, who they haven’t. They used to be called Laxey Partners and are a very successful, and necessarily ruthless, venture capital company. They will go through Stobart making whatever changes they deem necessary to make the business profitable, along the way gaining the other 49%, and then sell it; who knows the deal may already be done.
My money, for what that’s worth, is on red Renaults by 2018.
switchlogic:
I predicted this a while ago but now looks more likely than ever, in 10 years the Stobart name on trucks will be a memory. This strikes me as either Stobart Group needed the money or Stobart Logistics was dragging the rest of the group down, or both.
he went to court there years ago to take biomass out of the group as it was making money! Don’t think Alan Jenky was impressed either! put it this way he Drove down to Appleton and flew rapidly in chopper! hilarious to watch as I was in the canteen having a full Monty! £3.50
Trukkertone:
is this the same ■■? , (on a facebook page) ““Britain’s best-known trucking company could fall into German hands after it was revealed that Eddie Stobart is up for sale.
It is understood that Stobart Group, the company behind the green trucks that each carry a woman’s name, is close to selling 51 per cent of its transportation interests.
It is believed that the buyer could be DB Schenker, the German rail and road logistics group that is part of the state-owned transport giant Deutsche Bahn.””
i smell a fiddle…
Would that explain the other thread about Stobart running round Germany.
Supposed debt of £200 million, and transport side of business is valued at £200 million. Is this correct? What a joke of a business, and to think of all the fine haulage companies both sides of the border that they put out of business with their so called economies of scale.
One good thing is that if Deutsche Bahn come in, they will run the railhead in Widnes properly, and perhaps some of their worst drivers might move on, and make the roads a bit safer.
switchlogic:
I predicted this a while ago but now looks more likely than ever, in 10 years the Stobart name on trucks will be a memory. This strikes me as either Stobart Group needed the money or Stobart Logistics was dragging the rest of the group down, or both.
I don’t think it’ll last that long.
Looking at the report below they get the name for four years after that they can lease it for £3 million or buy the transport name for £15 million or £50 million out right.
Why would you do any of that
I’d simply retire it or switch it back to one of their own companies.
The sale includes a complex arrangement under which DBAY can use the Eddie Stobart brand for four years without paying.
After that, it can either buy the brand for use only in transport and logistics for £15million, pay £50million to use the brand however it wishes, or can pay £3million a year to license it.
Really looking forward to driving for D BAY ( trucking,logistics or whatever they call themselves), great to get the stigma of driving for stobarts off my back .
hilarious to watch as I was in the canteen having a full Monty! £3.50