Cargostore Completes Acquisition of Reftrade UK and Environstore
Deal News | Apr 15, 2025 | FM Business Daily
Cargostore Worldwide has completed its acquisition of Reftrade UK and Environstore, two Aberdeen-based companies, marking its first acquisition in its 30-year history. The deal was supported by Connection Capital LLP and Agathos Management LLP and positions the combined companies for significant growth in the UK and international markets. This strategic move enhances Cargostore's capabilities, allowing it to serve the offshore wind, decommissioning, clean energy, and pharmaceutical industries more effectively. The acquisition also strengthens Cargostore's Intermodal Division and expands its equipment inventory with high-spec DNV and ISO certified containers. The integration of Reftrade's and Environstore's expertise is expected to improve service delivery to various sectors, including defence and humanitarian efforts. As of April 2025, Reftrade and Environstore will be fully owned by Cargostore, with no changes to their management teams.
Sectors
- Logistics and Supply Chain
- Offshore Energy
- Pharmaceutical Logistics
Geography
- United Kingdom – Cargostore, Reftrade UK, and Environstore are based in the UK, and the acquisition is focused on expanding capabilities in UK offshore hubs.
- International – The acquisition aims to expand Cargostore's market reach internationally, enhancing its global operations.
Industry
- Logistics and Supply Chain – The acquisition is centered around the supply of shipping containers for onshore and offshore projects, a core part of logistics.
- Offshore Energy – Cargostore is enhancing its capabilities to serve offshore wind, decommissioning, and clean energy sectors, making it relevant to the offshore energy industry.
- Pharmaceutical Logistics – The acquisition includes specialized equipment for the pharmaceutical industry, important for temperature-controlled logistics.
Financials
- Multi-million pound – The financial magnitude of the acquisition deal.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Cargostore Worldwide | Acquirer | Company | A leading global supplier of shipping containers for both onshore and offshore projects. |
| Reftrade UK | Target | Company | A supplier of specialized refrigerated containers for hazardous environments. |
| Environstore | Target | Company | A company providing mudskips for drilling and decommissioning projects. |
| Connection Capital LLP | Investor | Company | A private equity firm that has been investing in Cargostore and supported the acquisition. |
| Agathos Management LLP | Investor | Company | Investment firm supporting the acquisition alongside Connection Capital. |
| Greg Spence | Managing Director | Person | Managing Director of Reftrade UK and Environstore. |
| Andrew Hart | CEO | Person | CEO of Cargostore Worldwide. |