Polar Speed / UPS

Cavendish Corporate Finance is delighted to announce the sale of leading thermo logistics firm Polar Speed to the world’s largest logistics company UPS. Founded in 1996, Polar Speed specialises in active temperature-controlled deliveries to hospitals, pharmacies, wholesalers and surgery centres as well as end patients.

Polar Speed uses a fleet of 118 actively monitored temperature-controlled vehicles for transporting both 2-8 degrees celsius refrigerated and 15-25 degrees celsius products in accordance with UK guidelines for medicines and healthcare products (MHRA). The fleet has on-board temperature recorders and alarms to alert drivers of potential temperature excursions as well as a PolarTrack, an online portal linked to a satellite navigation system allowing customers to access real-time delivery status and temperature conditions of their products

The acquisition adds three facilities to UPS’s global healthcare network, now totalling 45 facilities and is a key part of its strategy to strengthen its healthcare network across Europe.

The combined solutions of Polar Speed and UPS will provide a high-quality service to UK customers as well as providing Polar Speed employees with the opportunity to build on the growth momentum UPS has realised in the healthcare market.

Michael Jewell, the Cavendish healthcare partner who led the sale commented:

“We believe UPS will accelerate the growth of the business and enabling it to take full advantage of the opportunities generated by the increasing need for temperature-controlled distribution in the healthcare sector. Further consolidation, mergers and acquisitions are expected in the sector”.

Commenting on the transaction, Alan Cheshire former Chairman and a founding shareholder of Polar Speed said:

“Mike has built a strong relationship with the shareholders over the last three years, helping us to identify the right potential strategic partner and clearly articulating the strategic rational.

“The finnCap Cavendish team, led by Michael Jewell, did a fantastic job, running a truly competitive international process and managing the transaction through the diligence process with great skill. They were instrumental in delivering this deal and the strong outcome.”

James Wooster, Director, Owner Venture Managers

“We are absolutely delighted with the outcome of this deal and are excited to be joining DNV. This strategic decision will enable us to further accelerate our long-term growth objectives and showcase our unique LUNA technology. Karri and Harry have achieved an outstanding result for us through their wealth of sector expertise and highly commercial advice and it has been a joy working with them.”

Barry Mulholland, Founding Partner at MBI

“We’re excited to be joining the Calibre Scientific family, who will enable us to further accelerate our long-term strategic growth objectives. The finnCap Cavendish team has achieved a fantastic result for our Shareholders. Their wealth of sector expertise, professionalism and unwavering dedication throughout the process were instrumental in achieving a successful completion.”

Darren Likely, CEO, Agar

‘finnCapCavendish have great international connections and were able to bring an Australian buyer in the patient flow software sector to us. Their tenacity and understanding of the deal dynamics enabled us to run a smooth process and sell Extramed to a strategic buyer.’

James Steventon, CEO Hospedia Limited

“The team at Cavendish have done a fantastic job advising the Board of Zenith. They were confident that there would be strong overseas interest in the business and they managed that interest extremely professionally. We are delighted with the outcome and look forward to the next chapter for Zenith.”

Ringo Francis, CEO Zenith Hygiene

“The Cavendish Team, led by Michael Jewell, did an excellent job managing a well-orchestrated auction process and ensuring the smooth closing of the transaction in a timely manner. They were professional and easy to deal with throughout and committed to achieving a successful outcome for the shareholders.”

Rhian Griffith, representative of the Shareholders at SG Court

I am very pleased to have found such a complementary match in Venture Life, a highly successful consumer healthcare group with a reputation for accelerating the growth of the brands it acquires.
The resources and expertise of Venture Life will see Periproducts on a trajectory of rapid growth under the guidance of a proven management team, through enhanced marketing opportunities, new product development and, crucially, access to a substantial number of export markets.The Cavendish team were of great assistance throughout the sale process and in particular finding us the most fitting acquirer, helped by their strong networks in healthcare and their understanding of the oral care market.

Richard Bernholt, managing director of Periproducts

“We are delighted to partner with Bridgepoint who will help take MVF to the next level. Bridgepoint has proved to be the perfect match for MVF because they understand the company vision and culture and have the financial capability and international reach to support the continued growth of the business.

We made absolutely the right choice in appointing Cavendish. Michael Jewell and the team were instrumental in getting us the deal we wanted. I would have no hesitation in recommending them to anyone thinking about a sales process.”

Titus Sharpe, CEO of MVF

I wanted to express my personal thanks to you for all your efforts in achieving a successful sale of Yorktest. I never knew how stressful and complex the sale process could be. I really do appreciate your finding a good deal in quite difficult circumstances.

John GrahamFormer Chairman of Yorktest

The Cavendish Team, led by Michael Jewell, did an excellent job managing a well-orchestrated auction process and ensuring the smooth closing of the transaction in a timely manner. They were professional and easy to deal with throughout and committed to achieving a successful outcome for the shareholders.

Rhian GriffithRepresentative of the Shareholders at SG Court