The Development Bank of Wales has successfully exited Torfaen-based Freight Logistics Solutions (FLS) just four-years after making a strategic investment of £2.2 million to help the company to become one of the UK’s leading providers of end-to-end supply chain solutions.
The exit comes as a result of FLS taking the opportunity to refinance the business with NatWest in preparation for further growth. The value of the return for the Development Bank has not been disclosed.
FLS operates primarily within the UK and EU road freight space. FLS is a digital road provider with an extensive network of road freight vehicles leveraged with cutting-edge technology. Customer benefits include sustainable transport solutions, scalable and instant access to a full range of vehicles that provide spend and operational efficiencies through their digitalised approach with increased visibility and data insights.
Ieuan Rosser is Chief Executive of FLS. He said: “As we embark on the next stage of our growth, the time was right to reflect on how the support of the Development Bank has helped us to build a strong foundation for the future.
“Their funding has allowed us to develop our technology, including the Freight hub Modular platform, and operational infrastructure to provide the platform for growth that will now enable us to further leverage our Group offering and rapidly growing customer base from here in Torfaen. We are truly grateful for the support that we have had because without it, we wouldn’t be where we are today.
“Our future vision for FLS includes adding new dimensions to the service offering and planned UK and European expansion. This aligns with the planned release of customs capabilities, Logiquanta progress, and potential future group additions, which are key directives for growth.”
Mark Halliday from the Development Bank said: “Our equity investment in FLS has helped the team to drive business growth at a critical time for freight decarbonisation. They’ve come a long way in a short space of time and now have an excellent platform to deliver long-term sustainable growth and success. Furthermore, our return will be recycled for the benefit of new customers.”
