Cargostore Worldwide, a global leader in the supply of DNV and ISO certified shipping containers for onshore and offshore projects, has announced the successful acquisition of two Aberdeen-based companies—Reftrade UK and Environstore. The multi-million-pound deal marks the first acquisition in Cargostore’s 30-year history and represents a significant milestone in the company’s strategic growth journey.

The acquisition is supported by Connection Capital LLP and Agathos Management LLP and brings Cargostore, Reftrade, and Environstore under one group. The newly combined entity is now strategically positioned to scale operations across the UK and international markets, with a focus on key offshore energy hubs.

tr L to R – Greg Spence of Reftrade UK and Andrew Hart of Cargostore Worldwide

This move marks a major step in Cargostore’s expansion into the UK’s offshore energy sector, particularly in Aberdeen—a global centre for offshore logistics. By integrating Reftrade’s Zone 2 ATEX-approved EX refrigerated containers, which are ideal for hazardous environments including offshore and pharmaceutical operations, and Environstore’s mudskips used in drilling and decommissioning, Cargostore has significantly enhanced both its equipment offering and service capabilities.

The expanded fleet will allow the group to meet growing demand in sectors such as offshore wind, decommissioning, clean energy, and pharmaceuticals. It also enhances Cargostore’s ability to provide rapid mobilisation of DNV 2.7-1 and ISO certified units across Scotland, North East England, and East Anglia, strengthening its domestic presence while continuing to serve complex international logistics operations.

Clients of Reftrade and Environstore will now have access to Cargostore’s comprehensive fleet of CSC certified Cargo Carrying Units (CCUs), all compliant with DNV 2.7-1 standards, ensuring continuity of service for projects in challenging offshore environments. The acquisition also strengthens Cargostore’s Intermodal Division, particularly in providing temporary cold storage solutions to the global pharmaceutical and humanitarian sectors. The addition of Reftrade’s ATEX-approved reefers enhances its offering for regulated markets requiring stable, hazardous-environment storage solutions.

Both Cargostore and Reftrade played essential roles in supporting the UK government during the COVID-19 response, rapidly deploying cold storage solutions for testing and vaccination programmes. This integration of technical expertise will further benefit international emergency response efforts, as well as defence, aid, and government logistics projects.

Included in the deal is the acquisition of a fleet of DNV-certified offshore drill cuttings skips—now introduced to Cargostore’s inventory for the first time. These skips are vital for compliant waste handling in drilling and decommissioning projects and are now available for lease or purchase globally.

Commenting on the acquisition, Andrew Hart, CEO of Cargostore Worldwide, said:
“Over the past five years, Cargostore has grown organically by building an outstanding reputation, which is a testament to our knowledgeable and dedicated team. Supporting clients with high-quality, safe and innovative containers across the globe has been our focus. As the industry moves towards renewable offshore energy, decarbonisation and decommissioning, this acquisition fast-tracks our growth through strategic partnerships, new products, new geographies, and, for the first time, acquisitions. We’re just getting started.”

As of April 2025, Reftrade UK and Environstore are now wholly owned by Cargostore. No changes are planned to the existing management or operational teams. Greg Spence, Managing Director of both Reftrade UK and Environstore, and Martin Baxter, current Director, will continue in their roles with support from the wider Cargostore leadership team.

Greg Spence added:
“This acquisition comes at a time of significant growth for all three companies and is the natural next step in strengthening our position as a global leader in the timely delivery of accredited refrigerated and temperature-controlled units. We share a people-first approach and a commitment to safety, quality, and innovation. These values will continue through our partnership with Cargostore.”

Bernard Dale, managing partner at Connection Capital, commented:
“We backed the management team at Cargostore in a management buyout in 2020. Since then, the company has achieved remarkable growth, and we are thrilled to see this acquisition broaden its product and service portfolio for a global client base.”

For more information visit www.cargostore.com