Principal Logistics Technologies, which specialises in warehouse management system software solutions, has announced it has secured an investment from The Firmament Group and Harwood Private Capital.
The company has developed expertise within the United Kingdom and Irish cold storage, 3PL, and chemical warehouse sectors.
Principal Logistics was founded by Peter Flanagan in 1993 and is the original product developer.
Recently appointed, Brian Connolly has been driving the company’s acquisitions as the corporate development director. Collectively, the entire management team has “decades of experience” with some members having been with the company for more than 10 years.
Flanagan commented: “I am excited that our longstanding experience in deploying warehouse management software technology into the healthcare supply chain sector, as well as into a range of other sectors, will be increased by this strategic acquisition.
“I want to thank Firmament and Harwood for the support they provided on this transaction. They are champions of small and mid-sized companies like Principal Logistics, and they provided a flexible capital solution, which helped us achieve our objectives.”
Simmons and Simmons provided legal advice to Firmament while Dentons acted on behalf of Harwood.