Logistics-and-distribution firm Total Supply Solutions has changed hands in a secondary buyout for an undisclosed sum.

The deal - funded by a mixture of asset-based lending, cash flow and tradefinance facilities from assetbased lenders Enterprise Finance Europe - provides an exit opportunity for midmarket private equity-firm LDC. Total Supply, which owns Component Logistics in Birmingham, was formed from a management buyout of SEP Holdings in in 2001.

Managing director Paul Frost said the team was delighted to have gained full control of the company.

He said: "Complete ownership of the business allows us total control and flexibility in terms of our future direction and we are excited at the prospects for our business.

"We have a number of key contracts in advanced stages of negotiation and these will further boost our market position as a leading UK engineering logistics company."

With four operating areas of the business, employing a total of 53 people, Total Supply comprises of Component Logistics, Ellesmere Portbased WH Fluidpower and Norfolk-based Diss Fastners.

Component Logistics focuses on "just in time" engineering contracts and is a key manager of the supply chain for MG Rover Group and Land Rover.