Global freight forwarding giant acquires Sheffield company
Published: 4th November 2009
(left to right) Jayne Wilkinson Transtar director with Mary Broadhead SYIF investment director and Lee Bolsover Transtar director.
A Sheffield-based freight forwarding company has been sold to Transglobal Freight Management (TGFM) in a trade acquisition that is set to enhance and improve the company’s existing services.
Transtar International Freight Forwarder, based on Surbiton Street, Sheffield, was founded in 1981 to provide a wide range of services including export and import seafreight, airfreight, road, courier, marine insurance, local storage and distribution.
Jayne Wilkinson, director of Transtar, said: “The trade acquisition by Transglobal Freight Management (TGFM) offers a fantastic opportunity for us as a company.
“We at Transtar acknowledged that to continue to enhance and improve the company’s services, then involvement with a larger networked organisation was required. The acquisition by Transglobal more than provides this.”
The move represents an exit for South Yorkshire Investment Fund (SYIF) which has supported the company with investments since 2002.
Jayne added: “SYIF has provided us with the financial support that we’ve needed to make the business grow into an attractive acquisition target. We are delighted to be merging with TGFM and look forward to developing the company even further in years to come.”
Debbie Sorby, portfolio manager at SYIF, said: “Transtar has developed dramatically in the past few years to become a leading freight forwarding company that is desirable to larger businesses such as TGFM.
“SYIF’s first ever equity linked investment was made to Transtar, so it is a company that we have been involved with for some time. We are delighted that the company is now joining such a well respected organisation as Transglobal, which will bring even greater opportunities as part of such a wide ranging group.”
The exit is another great success for SYIF which has invested £60million (including money with management) in South Yorkshire businesses, helping to create wealth in the region and to safeguard jobs for local people.
SYIF can provide seedcorn, loan and equity linked investments, ranging from £15,000 to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
For more information about South Yorkshire Investment Fund, please visit www.syif.com or ring 01709 386377.
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About South Yorkshire Investment Fund
South Yorkshire Investment Fund provided seedcorn, loan and equity linked investments, ranging from £15k to £2.5m, specifically to help small and medium businesses meet the gaps in funding they need for growth and development.
Created as part of the Objective 1 programme, the Fund is a private and public sector business finance provider. The European Regional Development Fund and Yorkshire Forward are investors in the Fund.
South Yorkshire Investment Fund also provided access to Business Angel investments from the Yorkshire Association of Business Angels and Microloans through BiG Business Loan Fund and Donbac Microloan Fund.
Finance Yorkshire has now taken on responsibility for providing gap finance in Yorkshire and the Humber.
For further details please contact Suzanne Tinkler, on 0845 649 0000.
South Yorkshire Investment Fund Ltd is a company limited by guarantee (Registered No 3936065). South Yorkshire Investment Fund comprises three sub funds, the South Yorkshire Investment Capital Fund, the South Yorkshire Investment Development Fund, which are each managed by YFM Venture Finance Limited, and the South Yorkshire Investment Small Business Fund, which is managed by Finance South Yorkshire Ltd. YFM Venture Finance Limited (Tel 0113 294 5000) and Finance South Yorkshire Ltd (Tel 01709 386 377) are each authorised and regulated by the Financial Services Authority. South Yorkshire Investment Fund also provides a number of services, which are not regulated by The Financial Services Authority. These include the pilot Seedcorn Fund, BiG Business Loan Fund, Mentorbank and access to the Donbac Microloan Fund. BiG Business Loan Fund is managed by Donbac Ltd (company registration No. 01925556) and Key Fund Yorkshire Ltd (Tel 0114 242 8900).