John Good acquires 50% stake in Connaught Air Services
The John Good Group has has acquired a 50% stake in BCMS client Connaught Air Services, building further on its presence in the air freight market after gaining IATA accreditation in 2016.
Connaught is a global logistics company, founded in 1985 by David Irwin and Peter Hodges who lead an experienced team of industry professionals. The company prides itself on delivering a personal and specialist service based on its extensive experience in all aspects of the freight and logistics business.
This long-term investment will allow Connaught to leverage John Good's resources and network while remaining an independent company. Connaught will continue to be led by David Irwin and Peter Hodges along with their management team and will retain their offices in Middlesex, UK, the USA and Hong Kong.
Peter Hodges said: "Our partnership with John Good marks a new milestone in Connaught's history. This long-term investment provides Connaught and its customers with greater depth and breadth around the world and supports our collective ambition to be the best freight and logistics company in the market."
Seamus Jennings, Managing Director of John Good Shipping, added: "I am delighted to announce this strategic partnership. It marks a new step in expanding John Good's footprint in both air freight services and operations in the South East of the UK and very much complements our geographical footprint. The opportunity to invest in Connaught Air Services, a company with a strong reputation in the market with an enviable pedigree, plus the obvious synergies between our two companies was too good to ignore."
The John Good Group provides 3PL logistics services to a broad base of clients both in the UK and around the world. This latest investment adds the air express market to their extensive range of services and a purpose-built facility adjacent to London Heathrow, Europe's busiest airport, cementing its position in the market.
Connaught works with a range of clients including SMEs and bluechip clients across all sectors including pharmaceuticals, financial services, marketing, non-food retail, telecommunications, marine, apparel and e-commerce.
Customers of both companies will benefit from the improved buying opportunities as well as having access to the very best in class services of both Connaught and the John Good Group.
The shareholders of Connaught Air Services were advised by BCMS with legal support from Freeths. The price and terms are undisclosed.
BCMS Lead Advisor Nick Lankester commented: "Although there were several interested parties, the fit with John Good proved compelling. John Good's systems and resources will benefit Connaught's client base while also improving efficiency and effectiveness. We are delighted to have helped Connaught and John Good start an exciting new chapter together."