Cathay acquires Rhys Davies Logistics

Katharine Hidalgo
18 October 2019

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Cathay Investments has acquired logistics company Rhys Davies Logistics (RDL).

The firm has drawn equity from its Cathay Investments 2 fund. This is the firm's second acquisition this year.

The transaction sees RDL directors Mark Richmond and Stephen Thomas sell their shares and leave the company.

Cathay expects RDL to work with its portfolio companies Warehouse One Distribution, Amethyst Group and PNC Global Logistics to expand the range of services the companies can offer.

Company
Founded in 1952, RDL is a logistics transport and warehousing company. It also includes a range of value-added offerings, which extends to collection of raw materials through to final delivery, QC auditing and paint mixing. Headquartered in Cardiff, the company operates nine sites across the UK and employs more than 400 staff.

RDL recorded revenues of £38.75m in 2017.

People
Cathay Investments – Ben Chaing (CEO).