Waterland sells Base Logistics to Ardian's Staci

Alessia Argentieri
16 March 2021

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Waterland Private Equity Investments has sold Base Logistics to Ardian-backed Staci Group.

The sale ends a five-year holding period for Waterland. Under the GP's ownership, the company pursued a buy-and-build strategy with the acquisition of HealthLink, a logistics outsourcing specialist for life science companies, bought in 2017; and the purchase of Special Logistic Services, a field service logistics business acquired in 2019.

With the bolt-on of Base Logistics, Staci expects to strengthen its market position, enlarge its offering with the addition of complementary services, and further boost its expansion in Europe and the US.

The acquisition will create a group with an annual turnover of around €450m, employing 2,500 staff, and managing a network of 60 warehouses and 200 strategic stock locations.

Staci is headquartered in Saint-Ouen-L'Aumône, France, with 50 branches across Europe and the US. The company is controlled by Ardian, while the management team and Societe Generale Capital Partenaires hold minority stakes.

Ardian bought a majority stake in Staci from Belgian private equity firm Cobepa in July 2019. The deal valued the business at around €600m.

Company
Established in 1994 and headquartered in Moerdijk, Base Logistics is a logistics provider specialised in integrated transport planning and warehouse management for the medical and high-tech industries.

The business consists of three logistics companies: Base Logistics, HealthLink and Special Logistic Services.

Employing 450 staff, Base Logistics generates annual revenue of around €100m.

People
Waterland Private Equity Investments – William Ford (investment director).
Base Logistics Group – Robin Voet (CEO).
Staci Group – Thomas Mortier (CEO).