News Aarosin returns to RMS Europe
A former manager of Goole-based port operator RMS Europe Group last week landed a £21 million deal for the re-acquisition of the company.
Peter Aarosin, managing director of Danbrit Shipping in Hull, sold RMS in 2004 following a £13 million management buyout but in a deal last week he re-joined the company as chief executive, heading up a new management team that includes major RMS shareholders Paul Crossland, David Johnson, Gary O'Malley and Mike Kirby.
The company, which also offers shipping and cargo handling services, employs 240 staff, operating the Boothferry Container Terminal and the Covered Steel Terminal at the Port of Goole. It also owns the ports of Flixborough and Gunness on the river Trent.
"The activities of RMS Europe Group Limited are firmly rooted on the UK's busiest trading estuary, the Humber," said Mr Aarosin, who is to remain in his position at Danbrit.
"It presented an exciting opportunity for me to work with a great management team and to grow the business organically and by acquisition, with the existing management team, and develop the company further."
The latest move has been backed by Yorkshire-based groups YFM and PIF. Nigel Barraclough, investment manager for YFM, said: "We like the ports sector, which is an exceptionally strong one. The increasing cost per mile of road haulage puts inland ports like Goole and the Trent ports at a distinct advantage.
"Peter Aarosin is heading up an exceptionally strong management team in the secondary buyout of RMS, a team which we have known over the years to be very good."
Andrew Wright of PIF added that the deal represented the largest investment made by PIF, £1.5m, since it was created in 2004.
"We see this as a major business opportunity," he said.
Published on 26th July 2007 in News.
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