Phoenix is delighted to announce the sale of Ava, a leading global high security logistics business, to a US-based specialist logistics provider, ICAT Logistics. The terms of the transaction are undisclosed.

Following several other successful investments in specialist logistics, Phoenix partnered with Ava’s founding team, Chris Fergus and James Alston, in 2021 to help the business scale its position as the high-growth, challenger player in the high security logistics market.  Since 2021, Ava has experienced significant growth, has established a senior global operational team, and has pioneered the industry in the use of technology for customer communications.  Ava works with some of the biggest financial services and aid organisations in the world and has achieved this success while retaining its distinctive service-led culture.

Chris Fergus, Ava’s CEO, said:

“The partnership between Ava and Phoenix has gone even further than we envisaged at the start of our journey. With Phoenix’s help and backing, Ava has developed into the clear number 3 player in the global high security logistics market, serving some of the most coveted clients in the world, and has a number of clear avenues for future growth.  We are proud to be partnering with ICAT for the next stage of our journey.”

Tim Dunn, Senior Partner at Phoenix, said:

“Chris, James and the entire Ava team have been a delight to work with over the last 4 years and have consistently achieved stellar growth and margins, while focusing on Ava’s number one priority: customer service.  In an industry where Ava clearly offers the best proposition, Phoenix has been privileged to help Ava build its scalable platform while retaining the entrepreneurial spirit at its heart.  We wish Ava and ICAT all the best with what we are sure will be a very strong partnership.”