ICM AND ABELS MOVE IN WITH GERSON

Michael Gerson Limited, one of the UK’s leading international moving and storage companies, has been acquired by ICM Kungsholms of Sweden and Abels Moving Services in the UK, creating an organisation with a combined turnover of around 37 million, easily within the top five of the UK moving industry.

ICM Kungsholms AB, a publicly quoted Swedish removal and storage company established in 1896, has joined forces with Abels Moving Services Ltd, the UK’s foremost removals and storage firm and holder of a Royal Warrant to HM the Queen, to acquire the businesses of Michael Gerson Limited and Michael Gerson Relocation Limited.

Gerson (MG), which has been established for nearly 50 years, operates from Whetstone in London and Daventry in Northamptonshire, with specialist relocation services in Brinkworth near Swindon, provides integrated moving and relocation services for company executives relocating internationally. The management team will transfer to the new owners and continue to head up a dedicated workforce of some 70 employees whose experience in international removals and relocation is unsurpassed in the industry.

Niall Mackay, managing director of MG, where he has been employed since 1983, said: “We as a company are excited at the prospect of working together with two other premier brand moving companies. With their knowledge and wide experience of the industry, they will be able to provide us with fresh stimulus which will benefit our customers, our staff and our suppliers.”

Philip Pertoldi, group managing director of Abels, said: “When we heard of the opportunity to invest in one of Britain’s best-known international moving companies we felt it would be a perfect fit with our own core values on customer service. By combining with ICM Kungsholms, it was then possible to bring about the acquisition and, like Niall, we are all excited to consider how we can maximise the strengths of our relative companies in the future.”

Thomas Hanbo, ICM Kungsholms chief executive officer, who will become chairman of the new board, added: “I have worked with Philip on the world board of an international organisation for many years so we have built up a strong historical relationship. This will be enhanced by our joining forces to acquire MG. For ICM Kungsholms, this is a natural progression into the major European corporate market of the UK.

BDO Stoy Hayward London acted on behalf of the sellers and Mills & Reeve Norwich acted on behalf of the buyers with the assistance of company accountants Grant Thornton in Sweden and the UK.

-ENDS-

Issued on behalf of Michael Gerson, ICM Kungsholms and Abels Moving Services by Chelgate Limited.

NOTES TO EDITORS:

• Further information about Michael Gerson Limited can be found at www.michaelgerson.com.

• Further information about ICM Kungsholms can be found at www.icmkungsholms.se

• Further information about Abels Moving Services can be found at www.abels.co.uk.

• Michael Gerson, ICM Kungsholms and Abels Moving Services are all FIDI FAIM quality accredited for International Moving (www.fidi.com). FAIM stands for FIDI Accredited International Mover and is operated by FIDI the Global Network of International Moving Companies.

For further information please contact:

Michael Hardware on: 020 7939 7989 or 07775 925 274or e-mail: meh@chelgate.com