Houlihan Lokey Advises Carousel Logistics

Houlihan Lokey is pleased to announce the sale of Carousel Logistics, a portfolio company of Livingbridge, to Danish private equity firm Axcel. The transaction was completed on 28 February 2022.

Founded in 1986 by former CEO Graham Martin and Michael Martin, Carousel Logistics has grown into a leading pan-European logistics specialist delivering aftermarket solutions to organisations in performance and life-critical industries. It is headquartered in the UK with offices in the Netherlands, Germany, and Spain, and has 213 employees.

The firm uses its proprietary technology platform Gateway® to provide aftermarket logistics services to over 200 blue-chip Original Equipment Manufacturers (OEMs) clients. Key sectors include Agriculture & Construction, Electronics & Technology, Industrials & Materials Handling, and Med-Tech & Pharmaceuticals, where bespoke logistics solutions are required to avoid the high cost of failure and enable service-led strategies.

Axcel, a Nordic private equity firm focusing on mid-market companies and with a broad base of both Nordic and international investors, is acquiring Carousel alongside Danish based DANX. The two companies combined will form an in-night logistics specialist with strong positions in the Nordics, Baltics, UK, Ireland and Iberia, with a combined revenue of approximately €190m. 

Houlihan Lokey served as the exclusive financial advisor to Carousel Logistics on the transaction which highlights our deep sector expertise in the logistics space.