Investment to help Virginia Logistics pursue ambitious growth plan

Virginia International Logistics will pursue an ambitious expansion plan having attracted "substantial investment" into the family run business.

The deal announced today sees MML Growth Capital Partners Ireland (MML) make an investment to underpin the ambitious expansion plans the Cole family - Sean, James, Eamon and Managing Director, Ray Cole - in the logistics market.

The value of the investment was not disclosed, simply described as "substantial".

Established in 1982 as a local transport business, Virginia International now employs approximately 200 people with a focus on international logistics across Ireland, the UK and Europe. The business is reportedly on course to generate revenues of c. €40 million in the year to December 31, 2022.

Virginia International services the food and 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.

Ray Cole, Managing Director said they are “delighted" to partner with MML.

“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,” said Mr Cole.

The investment is subject to approval from the Competition and Consumer Protection Commission (CCPC).