Geldards have advised the Development Bank of Wales on the deal.
The Development Bank of Wales strategically invested £2.2 million in Pontypool-based transport logistics business Freight Logistics Solutions (FLS).
The investment by the Development Bank, which includes a mix of equity and loan funding from the Wales Business Fund and Wales Management Succession Fund, will help FLS to develop their unique end-to-end supply chain technology and improve their operational infrastructure.
The deal will drive further growth in the business and will benefit their substantial subcontractor haulage network in the UK and Europe. With access to over 50,000 vehicles FLS are able to offer extensive supply chain options and solutions to businesses at a very challenging time for the sector, with the impact of Covid, Brexit and changes to IR35 resulting in an unprecedented shortage of available drivers.
The Development Bank was advised by Geldards’ Corporate team in Cardiff. Partner Alex Butler (Picture) was the lead advisor, supported by Ewelina Wagiel and Joga Singh.
Law Firms: Geldards;
Clients: Development Bank of Wales;