KAMMAC acquired by ELANDERS

Elanders acquired all the shares of Kammac, the English contract logistics company, from its owner Paul Kamel, at an enterprise value of including the earn-out, on a cash-free, debt-free basis. The agreement was signed on 8 November 2023 and Kammac was consolidated into the group from that month. The price was payable in two instalments, one on completion and the other as an earn-out in 2025 based on 2024 results, and Elanders financed the purchase mainly with its existing credit facilities. Kammac generated net sales of more than over the previous twelve months and had grown by about 20% a year over the preceding three years. The acquisition made the United Kingdom Elanders’ fourth largest market. Chief operations officer Ged Carabini stayed with the business. Elanders presented the deal as part of its strategy of broadening its offer and its customer base, and saw scope to apply Kammac’s model in other countries where it operates, while offering Kammac’s storage services to its own customers alongside its omnichannel platform. Walker Morris advised Elanders on the transaction.