ERDF

Cardinal Maritime sets sails for success

30th

July

Category

Growth Start-up

Established in 1998, Cardinal Maritime is the fastest growing UK owned logistics provider, shipping consignments ranging from foodstuffs and medical goods to equipment for oil rigs, waste metal and paper for recycling. Based in Wythenshawe with offices in Ireland and South Africa, the business was recently valued at £15m, employs more than 150 staff and is headed up by Chief Executive Brian Hay who explains in his blog just what they are doing to create an annual growth rate of 25%.

Established in 1998, Cardinal Maritime is the fastest growing UK owned logistics provider, shipping consignments ranging from foodstuffs and medical goods to equipment for oil rigs, waste metal and paper for recycling. Based in Wythenshawe with offices in Ireland and South Africa, the business was recently valued at £15m, employs more than 150 staff and is headed up by Chief Executive Brian Hay.

Cardinal Maritime has built a highly regarded reputation within the logistics sector and in 2004, the business launched a new concept within the logistics sector in the form of the FREIGHTcalculator, a product designed to provide fully transparent freight pricing. With this concept a new industry was born: ‘on-line freight pricing’; the ability to generate a fully inclusive and transparent freight price to and from any port that we served.

The business enjoys an annual growth rate of 25% and has an active roll-out plan geared towards replicating the business model internationally. We have already successfully opened for business in South Africa, Holland and Ireland with a further five offices to follow within the next four years and revenue targets of £50m this year and £100m by 2015.

We have also developed a highly regarded Corporate Governance programme (Cardinal Trust) which invests both in the local community and a number of international charitable pursuits. This sits alongside our CADET assist programme, which is aimed at developing the next generation of freight professionals.

We recently underwent a share transfer to members of staff. In recognition of the contribution made by our management, it was important to reward the continued contribution of a number of individuals whom have dedicated the best years of their career to Cardinal Maritime. Having completed the MBO, re-distributed some shareholding and created an EMI Trust, the business now benefits from a highly committed, dedicated and rewarded team of individuals which will help maintain the momentum needed to achieve our growth targets. It also sends an important message to the next generation of freight professionals currently investing their careers in the fairy-tale that is Cardinal Maritime. I firmly believe that the entrepreneurial spirit of the company’s original founders, combined with the innovative use of technology, have been key components of our on-going success and we’re hugely excited about what lies ahead for us and our team.

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