Significant capital investment will support company’s ambitious growth plans
County Cavan headquartered Virginia International Logistics, an award-winning transport and logistics services provider, has agreed a substantial investment with MML Growth Capital Partners Ireland (MML) to underpin its ambitious expansion plans in the logistics market. The deal sees MML make the investment in the business alongside existing family shareholders.
Virginia was established in Cavan in 1982 as a local transport business and Sean, James, Eamon and Ray Cole have led the expansion of the business over the past 40 years to now focus on international logistics across Ireland, the UK and Europe. The business is headquartered in Virginia, County Cavan and employs c. 200 people. It expects revenues of c. €40 million in the year to 31 December 2022. The business services the food, beverage, industrial, manufacturing and pharmaceutical markets. Virginia operates a fleet of over 130 trucks, 400 trailers in conjunction with a 50,000 square foot facility in Kells, County Meath offering storage of chilled and dry goods, cross docking and “pick and pack”. It has additional transport hub facilities in Ballycoolin, Dublin and Tamworth, UK. It also offers customs clearance, freight forwarding, track, trace and live temperature monitoring services.
“We are delighted to have agreed this investment and to partner with MML through the next phase of Virginia’s journey”, commented Ray Cole, Managing Director, Virginia on the investment. “Given international delivery trends, the logistics sector continues to expand in terms of expertise and capacity, which creates market opportunities for well positioned and invested businesses. I look forward to working with MML on our
expansion plans. We are all ambitious for the company and intend to grow both organically and by acquisition. With its experience of working with dynamic scaling businesses, MML is the perfect partner for the next stage of our journey.”