LDC-backed Mosaic Acquires Thorn 3PL Services Ltd
Technology-led fulfilment services provider Mosaic Fulfilment Solutions (Mosaic) has acquired logistics, warehousing and fulfilment firm Thorn 3PL Services Ltd.
The deal will support Mosaic, which is backed by leading mid-market private equity firm LDC, to increase its capacity, further enhance its technology-led services and expand its footprint across the North.
Yorkshire-headquartered Mosaic helps its customers operate more efficiently by providing end-to-end outsourced business services including e-fulfilment and payment processing. It also provides its clients with a cloud-based software services so that they can easily manage and review their income and customer relationships. The business serves a broad range of customers across the retail, e-commerce, FMCG and not-for-profit sectors.
Established in 2018 and based in Cheshire, Thorn 3PL, which employs 20 staff, boasts 60,000 square feet of warehousing for storage, packaging and general fulfilment services. It also provides pre-retail services, consultancy and freight forwarding to customers. As part of the transaction, the business will continue to operate as Thorn 3PL but will be part of Mosaic.
Duncan Marrison, CEO of Mosaic Fulfilment Solutions, said: “A key element of our growth strategy is acquiring complementary high-quality businesses. Thorn 3PL, with its passionate team of experts and the first-class services it offers, is a perfect fit. The business extends our footprint across the North and increases our capacity so we can support even more customers with our technology led solutions.”
Mosaic partnered with LDC in 2019 to support the next stage of its growth journey. With LDC’s backing, the business is actively exploring complementary acquisitions, investing in new product development to broaden its range of services and extending its existing site in York to double its capacity.
Dan Smith, Head of LDC in Yorkshire, added: “Our partnership with Duncan and his team at Mosaic is helping the business explore a number of different avenues to growth. The addition of Thorn 3PL will add scale to the business and will further bolster Mosaic’s offering across the UK.”
During the last two years, LDC-backed businesses across the UK have acquired more than 50 companies with a combined enterprise value of more than £250million. LDC is currently supporting two thirds of its existing portfolio to pursue an acquisitive growth strategy.
Mosaic was advised by Eversheds Sutherland.