Marriott Harrison advises Gresham House Ventures on exit from logistics business, Master Removers Group

Wednesday 21st February, 2024

Marriott Harrison was pleased to advise longstanding client Gresham House Ventures on its exit from MRG via the sale of Bishopsgate – MRG’s B2B logistics division – to listed Swedish group Elanders AB and on the sale of their stake in MRG’s domestic removals business to management.

MRG provides specialist logistics, storage, and removal services to international businesses and domestic consumers. Gresham House Ventures initially invested £7.2mn into MRG via the Mobeus VCTs in 2014 and has since seen Bishopsgate expand its customer base and the domestic removals business grow consistently. The sale of Bishopsgate to Elanders, based on an enterprise value of £47.5mn, will allow Elanders to expand their presence in the UK and continue MRG’s success story.

Bob Henry, portfolio director at Gresham House Ventures, said: “the exit from MRG is one of numerous transactions Marriott Harrison has advised us on in recent months. It was great to work with Marriott Harrison once again and continue our long-standing relationship. The trusted advice and commercial approach of Jonathan and his team is invaluable in what has been a busy dealmaking period for Gresham House Ventures.”

Recent Gresham House Ventures transactions Marriott Harrison has advised on include investments into travel technology business Branchspace, business process automation company Azarc, and legaltech platform Legatics.

Jonathan Leigh-Hunt led the Marriott Harrison team with support from Lisle Gannon.

 

Articles by Jonathan Leigh-Hunt