Logistics group Wincanton, which is poised to be taken over by US group GXO, hit the acquisition trail itself today by snapping up a specialist warehousing software firm.
Chippenham-headquartered Wincanton, which has 20,300 employees and 8,500 vehicles in more than 170 sites across the UK, said buying Invar represented a key milestone in its “strategic roadmap to create sustainable supply chain value through technology and automation”.
Bedfordshire-based Invar’s proprietary software, the Invar Warehousing Software (IWS), makes operations in depots more efficient while also enabling the smooth integration of wider technology such as the use of robots and automation.
The privately owned firm, which was founded in 2005, has operations in the US, Poland, China and The Netherlands as well as the UK.
Its clients include airline and holiday firm Jet 2, Disney and US sportswear group Under Armor. It will remain a stand-alone business within the Wincanton group.
The acquisition comes just days after French-owned shipping giant CMA CGM, which operates in the UK under the CEVA brand, effectively abandoned its 480p-a-share bid for Wincanton.
That leaves the way clear for GXO, which owns Clipper Logistics in the UK, to take over Wincanton with its 605p-a-share offer. Wincanton’s board, having at first approved CMA CGM’s bid, U-turned last week to recommend GXO’s.
Wincanton has developed a strong eCommerce fulfilment offering in recent years to capitalise on the boom in home shopping.
The group said the Invar acquisition gave it “the people, processes and technology which will enable Wincanton to deliver more robotics and automation projects at pace” for its customers.
Several projects were already under way, it said, focusing on AMR (autonomous mobile robots) deployment across Wincanton’s existing blue-chip customer base.
Wincanton CEO James Wroath said: “This capability-enhancing acquisition catapults us on our journey to become a leading integrator of automation and robotics solutions for supply chains.
“The Invar team is a great cultural fit, with a pedigree in developing and integrating best-in-class solutions. “The combination of this, alongside Wincanton’s deep customer partnerships and operational expertise, will enable us to deliver more value, faster, for our customers.”
Invar managing director Craig Whitehouse added: “From the considerable interest shown in our business, we selected a partner that clearly offered the best long-term future for Invar and its people.
“Wincanton, with its deep resources and wealth of knowledge of the logistics sector, makes a perfect strategic partner for Invar – where our synergies on technology and automation align for a bright future.”
Financial details of the acquisition have not been disclosed.
