Fermoy's South Coast Logistics acquired by Indaver owner

South Coast Logistics have been acquired by Belgian firm Katoen Natie.

Cork hauliers South Coast Logistics has been acquired by Belgian logistics and port operations firm Katoen Natie for an undisclosed sum.

South Coast has served the Irish market for 50 years under the O’Flynn family. The company was founded by the late Colman O’Flynn in 1975, and continued by his sons John, Richie and Pat. 

Today, the Fermoy firm is one of Ireland's largest logistics specialists serving the pharma, petrochemical and food manufacturing industries.

As the firm expands its operations in Dublin, the O’Flynn family made the decision to seek international investment. Most recent accounts filed by South Coast show a profit after tax of €1.7m for 2023, a rise on the €730k recorded in 2022.

Headquartered in Antwerp, Katoen Natie is also family-owned. It has operations in more than 35 countries, across sectors such as petrochemicals, consumer goods, automotive, and speciality chemicals. It holds a major shareholding in waste management firm Indaver.

The existing management team of South Coast will remain in place, running the business. Terms of the transaction have not been disclosed.

Richie O’Flynn, managing director of South Coast Logistics, said: “We are delighted to partner with a globally respected company like Katoen Natie, whose shared values and expertise will help fast-track our growth plans and unlock new opportunities for our customers, staff, and the wider market. 

"I am honoured to continue as managing director as we enter this exciting new chapter, building on 50 years of family heritage while driving a bold and ambitious future.”

The acquisition is subject to Competition and Consumer Protection Commission (CCPC) approval. In a statement, Katoen Natie said the deal allows it, and its daughter company, Indaver, to leverage South Coast Logistics' market reputation and expertise to solidify its footprint on the island.

Patrik Naenen, business unit director of Katoen Natie, said: "For us, this partnership is not only about growth, but also about shared values. Like South Coast, we believe in accountability, integrity, innovation, and collaboration as the foundation of long-term success. 

“'Our people make the difference' is not only the slogan of Katoen Natie but also reflects our most important value: our people and our teams. We therefore wished to set up this deal only with the full support of the South Coast management team, who will continue to lead the company into the future."