Jellicoe leads MBO at Drivers Direct

Drivers Direct has received a £1.75m investment from Frontier Development Capital (FDC) to facilitate a management buyout (MBO) by the driver recruitment firm’s management team.

The MBO will see ownership of the business transfer to the current management team led by managing director Daniel (Danny) Jellicoe (pictured right), with plans to continue the organic growth of the business and expand to new locations in the UK.

Jellicoe has been with the business for nearly 20 years, joining first in 2002 as a consultant, and progressing through the company as branch manager, regional manager and operations director before his most recent appointment.

The MBO has been quantified by different sources as £3.15m and £3.3m. 

The move will see founder Gethin Roberts (pictured left) move to the position of CEO for a 12-month transition. The new management team will continue to pursue a strategy of organic growth through the acquisition of new sites that enhance the company’s existing operating base of 21 locations across the UK and a dedicated logistics centre in Tamworth.

Jellicoe acknowledged the current, unprecedented demand for drivers and said the business was “well placed to support our clients in meeting these needs”.

Formed in April 2002, the driver recruitment business specialises in the training and placement of drivers across all vehicle classes including HGV, LGV, van and minibus on both a temporary and permanent basis. Headquartered in Runcorn, Cheshire, Drivers Direct supplies more than 1,100 drivers a week to clients from across the public and private sectors and provides management and support staff.

Frontier Development Capital is a provider of regional debt funding, dedicated to supporting established SMEs through flexible long-term investments. The investment was made from the £100m FDC Debt Fund.

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