MML Ireland backed Virginia International Logistics and announced the strategic acquisition of Allmed
2 September 2024
The acquisition creates a “one-stop shop” for customers’ transport, distribution, and warehousing needs. The ambition of both businesses is to continue the growth achieved to date, continue providing first-class customer service, invest further in technology and facilities, extend our value-added service offerings to Irish, UK, and European markets, and provide more opportunities for our employees. The acquisition has been supported by the existing Virginia shareholders, which includes MML Growth Capital Partners Ireland, and the Cole family, and the Group’s banking partner, Bank of Ireland.
Allmed was founded by Alan Hoyne in 2002. In 2021 Alan transitioned executive leadership of the business to Managing Director, Martin Carr. Allmed employs over 30 people in Thomastown, Co. Kilkenny, providing groupage and full-load freight forwarding of ambient and chilled products for customers in Ireland and the EU. Virginia International Logistics was founded in 1985 and has its headquarters in Maghera Co. Cavan. The company employs over 240 people across 4 sites in Ireland and the UK. The company operates a fleet of over 125 trucks, 360 trailers and over 120,000 square feet of ambient warehousing space. MML Growth Capital Partners Ireland invested in the Company in 2022.
Alan Hoyne, Allmed Founder, said: “We are very excited to become part of the Virginia Group. Virginia is an Irish family business, like Allmed, sharing similar values and ambitions. Virginia is the perfect fit for Allmed to fulfil its long-term goals and vision for the future and we could not be entrusting our business to better people.”
Martin Carr, Managing Director of Allmed, said: “This acquisition of Allmed by Virginia marks a historic and exciting milestone for all of us. Together we will form a stronger business, drive further growth and innovation, and create more value for our employees, customers and stakeholders. We are thrilled to complement our service offerings with the additional resources, capabilities and scale of Virginia for our customer benefit.”