From plan B to Plan A
IJS Global is a freight forwarder with over 600 people working in 25 countries. The company was quite successful – with maybe two just flaws: the financial administration was not up to standards. Even more serious: the management discovered fraudulent operations in the Brazilian branch. The combination almost made the entire company collapse.
At the time the fraud was discovered, the company was in the middle of an M & A process, which was initiated by the previous private equity owner. In order to save the company, its CEO pursued the acquisition by a strategic investor as plan A. To have a plan B at hand, he asked Nimbus to put on their training suits and be ready to jump in the field at any time. So we did. A few weeks later, when the strategic investors had withdrawn, we took over IJS Global. The Brazilian branch was not included in the deal. Furthermore we relocated the financial department from London to the Netherlands and appointed a new CFO.
Only a year later a global player in automotive logistics showed interest in IJS Global. The two were not only complementary in a geographical sense; IJS Global could act as a driving wheel for the freight forwarding activities of the new owner. Nimbus played its part and sold its share, thus successfully ending plan B.
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