QuickView: Disposal creates value and increases the focus
Wincanton has announced the agreed disposal of Records Management for an excellent strategic price of £60m (£55.7m net). This will further reduce debt levels and strengthen the balance sheet while allowing the new management team to focus on the core logistics business. With debt now likely to be below the 2x EBITDA management target, we expect discussions about the resumption of dividends to be back on the board agenda.Wincanton provides logistics and supply chain solutions. Co.'s segments are: Retail & Consumer, which include retail general merchandise, retail grocery and consumer products; and Industrial & Transport, which include transport services, construction and other. Co.'s retail & consumer operations manage the flow of goods from production through to delivery to the store or home. Co.'s industrial & transport operations handle a range of industrial products through a network. The products are as diverse as fuel, bricks and engineering components alongside the transport of containers and general goods. It also includes the maintenance of large goods vehicles and heavy goods vehicles.
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