US acquisition for Joloda International Ltd
Fast-growth manufacturing business and BGF portfolio company, Joloda International Limited (JIL), has acquired US-based Loading Automation Inc (LAI) as part of its ambitious global expansion. The company’s progress is underpinned by the boom in the global e-commerce market and the increased adoption of warehouse and logistics automation.
Based in Wilmington, North Carolina, LAI has been a distributor of JIL’s products across North America for more than 15 years. JIL designs and manufactures loading technology systems that improve or automate the process of loading and unloading cargo onto vehicles. Demand for this critical automation infrastructure has accelerated this year as it drives benefits through the e-commerce supply chain, such as improved health & safety, cost effectiveness, enhanced speed and CO2 reduction.
BGF backed JIL with £7.5 million in July 2019 to unlock the company’s growth and support new product innovation. The deal strengthens the business’ US footprint and will allow LAI to offer the full Joloda Hydraroll product range to the North American market.
Commenting on the deal, Michele Dematteis, CEO of Joloda International, said: “The acquisition supports our growth strategy and will help us better serve existing customers across the US, as well as significantly expanding our reach across North America. Given the strength of our brand and the innovative nature of our product range, this deal will allow us to continue to build on the success we’ve had to date, as the sector continues to grow and we gain market share.”
Brett Murill will continue in his current role as President and shareholder of LAI, by spearheading JIL’s US expansion plans and ensuring a smooth transition for existing and future customers.
Spencer Woods, investor at BGF, added: “This deal is a significant milestone in JIL’s continued expansion in the UK and across international markets. The business is a real success story for the North West and UK manufacturing as a whole and I have every confidence that it will continue to grow its US operations by leading innovation within this fast-paced sector. We look forward to working with Michele and Brett during the next stage of their growth journey.”
Business funding news
Celaton secures backing from renowned tech entrepreneur Vin Murria
Milton Keynes-based software company, Celaton has secured backing from serial investor and technology entrepreneur, Vin Murria OBE. Founded in 2004…
BGF announces £100m milestone in life sciences investment
BGF has broken the £100 million investment milestone, backing more than 30 businesses across the fields of diagnostics, medtech and…