Cathay

What Cathay does

Cathay Investments Limited is a UK-based privately-held holding company founded in 2003 that pursues a buy-and-build acquisition strategy across the chemicals, logistics, toys, and healthcare sectors. Headquartered in Croydon, UK, with a regional office in Wan Chai, Hong Kong, the group controls 14+ operating subsidiaries that span third-party logistics, freight forwarding, composite materials distribution, nonwovens manufacturing, toys and stationery wholesale, greeting cards franchising, and medical/optical equipment manufacturing. The group's logistics platform operates across 17 UK and European locations with over 1.1 million square feet of warehouse space, 60+ transport vehicles, and an Amethyst Global Freight network spanning 425 offices and 20,000+ operatives worldwide.

The operating model centers on acquiring mid-market distribution and manufacturing businesses, retaining existing management, and providing shared group resources including a Warehouse Management System (WMS) that offers inventory identification, order visibility, and customer-facing portal access. Core subsidiaries include Amethyst Group (3PL services with up to 650,000 sq ft of shared-user warehousing), Euroresins International (composite materials distribution across nine European countries with a 4,000+ product portfolio), Warehouse One Distribution (regulated contract logistics with MHRA and upper-tier COMAH approval and 400,000+ sq ft across four sites), Lantor BV (nonwovens manufacturing in the Netherlands and Germany), and Mercian Logistics (UK distribution and fulfillment acquired in 2022). The portfolio serves enterprise and mid-market customers across fashion & beauty, toys & baby, pharmaceutical, composite materials, and consumer goods verticals, with named enterprise customers including Toys R Us UK, MGA Entertainment, Uniqlo, New Look, and Agent Provocateur.

Revenue is generated primarily through B2B managed services including warehousing, pick-pack-dispatch fulfillment, freight forwarding, and wholesale distribution, with pricing conducted via undisclosed relationship-based contracts. The company is led by founder and Managing Director Ben Chaing, who has overseen the acquisition of operating companies from listed sellers including Cytec Industries, Royal DSM, and Itochu Corporation. In April 2025 the group expanded beyond its traditional distribution focus with the launch of Cathay Technologies, a subsidiary commercializing digital aviation solutions including the Electronic Flight Folder to the broader aviation market. Growth has been self-funded through a mix of bank debt and reinvested profits, with no disclosed institutional investors or public market listing.

Name

Cathay

Legal name

Cathay Investments Limited

Website

https://cathay-investments.com

Company type

Private

Founded year

2003

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Cathay Investments Limited is a UK privately-held holding company executing a buy-and-build strategy across chemicals, logistics, toys, and healthcare, with 14+ subsidiaries including 3PL providers, composite materials distributors, and nonwovens manufacturers serving enterprise customers across the UK and Europe.

Ownership category

akta.pro rank

Product category

Logistics and Distribution Services

NAICS

Portfolio Management and Investment Advice (523940), Other Financial Investment Activities (5239), All Other Financial Investment Activities (52399)

SIC

Investment Advice (6282), Public Warehousing & Storage (4220), Arrangement Of Transportation Of Freight & Cargo (4731)

akta.pro industry

PRIMARYFSANACAK

Transportation, Logistics & Mobility Growth Equity

Financial & Insurance/Private Equity & Venture Capital/Growth Equity Firms

SECONDARYTLAIALAB

Aerospace & Defense

Transportation & Logistics/Third-Party & Fourth-Party Logistics (3PL/4PL) / Contract Logistics/Industry-Specific Contract Logistics (Automotive, Pharma, Retail, Aerospace, etc.)

Keywords

• Third-party logistics services
• Warehouse distribution services
• Freight forwarding solutions
• Composite materials distribution
• Chemical distribution services

Headquarters

HQ city

Croydon

HQ country

United Kingdom

HQ region

Europe

Offices6 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Distribution Services: Revenue generated through distribution of chemicals, logistics services, toys, stationery, and healthcare products across UK and Europe. Income from warehousing, fulfillment, and freight forwarding services.
2. Third-party Logistics (3PL): Third-party logistics provider offering warehousing and distribution services with B2B, B2C, and D2C fulfillment capabilities

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

Cathay Investments Limited is a privately-held UK investment holding company that acquires and operates industrial subsidiaries across third-party logistics, contract warehousing, freight forwarding, B2C/D2C fulfillment, chemical and composite material distribution, and specialty manufacturing. Through its portfolio it provides storage, distribution, fulfillment, and freight forwarding services to enterprise customers in the toy, fashion, beauty, pharmaceutical, composite, and consumer goods sectors, and has begun commercializing digital aviation solutions.

Product overview

Cathay is a UK-based mid-cap privately-owned investment company founded in 2003, operating as a holding company with a portfolio of subsidiaries across chemicals, logistics, toys, and healthcare sectors. The company follows a buy-and-build acquisition strategy, with operations spanning 17 locations across the UK and Europe with over 1.1 million sq ft of warehouse space. The portfolio includes Mercian Logistics (UK distribution and fulfilment), Amethyst Group (third-party logistics), Amethyst Global Freight (freight forwarding), Warehouse One (contract logistics), Euroresins International (composite materials distribution across Europe), Lantor BV (nonwovens manufacturing), Perkins Group Services and Williams of Swansea (toy and stationery distribution), The Original Poster Company (greeting cards franchise), Marpex Chemicals (chemical distribution), Educational and Scientific Products (medical models), and Sussex Vision International (optical equipment). The company also launched Cathay Technologies in 2025 to commercialize digital aviation solutions including the Electronic Flight Folder to the broader aviation industry.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• 22+ years of experience in toy industry sector
• +1 more outcomes

Named customers9 records

Segments6 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered minor and core.

• IvylineminorChannel Partner/ Reseller/ Distributor · 5 April 2023Ivyline, a supplier of contemporary accessories for homes and gardens, joined Amethyst Group for warehousing and distribution services. Ivyline ethically sources products including indoor planters, glassware, Christmas items, and outdoor living collections.
• Toys R Us UKcoreChannel Partner/ Reseller/ Distributor · 20 October 2022Toys R Us UK partnered with Amethyst Group as their logistics provider for e-commerce operations in the UK. Operation runs from Wellesbourne Super-Hub with 47,000 pallet spaces and 80,000 sq ft e-commerce facilities.
• Anker Stuy CompositesminorChannel Partner/ Reseller/ Distributor · 13 July 2020Euroresins collaborating with Anker Stuy for distribution of emission-free gel coats in Benelux, UK and Scandinavia. Anker Stuy manufactures specialist paints, gel coats and coatings.
• PoliyaminorChannel Partner/ Reseller/ Distributor · 12 May 2020Euroresins SAS collaborating with Poliya for distribution of polyester and vinylester resins, gel coats, bonding pastes across France under brands Polipol, Polives, Poligel and Politix.
• SIR IndustrialecoreChannel Partner/ Reseller/ Distributor · 5 March 2020Euroresins appointed as exclusive distributor for SIR Industriale SpA in UK, Belgium, Netherlands, Italy, Spain, Portugal, Sweden, Finland and Norway. SIR Industriale has 80+ years experience in resin manufacturing.
• Now Group UKminorChannel Partner/ Reseller/ Distributor · 6 February 2019Now Group UK partnered with Amethyst for warehousing and distribution services. Now Group distributes Outback BBQ's, Bose, Denon and other high-end audio equipment.
• Smash GlobalminorChannel Partner/ Reseller/ Distributor · 5 February 2019Smash Global partnered with Amethyst for UK warehousing and distribution services. Smash manufactures functional and innovative food and drink storage containers.
• MGA EntertainmentcoreChannel Partner/ Reseller/ Distributor · 5 July 2017Global toy firm MGA Entertainment appointed Amethyst Group as its warehouse and logistics provider, including for MGA Entertainment and Zapf Creation products.

Scale indicators6 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Wincanton: UK-based contract logistics and warehousing provider serving retail, FMCG, and industrial customers. Directly comparable to Cathay's Amethyst Group and Warehouse One in 3PL/4PL services for the UK market.
• Endless LLP: UK mid-market private equity firm executing buy-and-build strategies across distribution, logistics, and specialty industrials. Closely comparable to Cathay's investment holding company structure and acquisition cadence.
• EMK Capital: UK growth equity firm focused on business services and consumer-related investments with buy-and-build approach. Comparable to Cathay's holding company model targeting niche distribution and specialty industrials.
• Livingbridge: UK mid-market private equity firm investing in consumer-facing, distribution, and business services companies. Comparable to Cathay's investment holding approach and sector focus areas.

Broad incumbents

• DHL Supply Chain (Deutsche Post DHL): Global contract logistics leader with warehousing, distribution, and freight forwarding operations across Europe. Comparable to Cathay's Amethyst Global Freight and Warehouse One offerings at much larger scale.
• GXO Logistics: Global pure-play contract logistics provider offering warehousing and distribution for retail and consumer goods. Overlaps directly with Cathay's Amethyst Group 3PL services for fashion, toys, and e-commerce customers.
• XPO Logistics: Major European and global logistics provider with warehousing, freight forwarding, and contract logistics. Comparable scale and service breadth to Cathay's integrated logistics network across UK and Europe.
• Brenntag: Global specialty chemicals distribution leader with broad product portfolio across multiple chemistries. Comparable to Cathay's Euroresins and Marpex Chemicals distribution operations at much larger scale.
• Univar Solutions: Major specialty chemical and ingredient distributor serving industrial customers across Europe. Comparable business model to Cathay's Euroresins composite materials distribution and Marpex Chemicals operations.

Emerging players

• Hubron Specialoys: European specialty distributor of composite materials and carbon black. Niche competitor to Cathay's Euroresins in the composite resins and specialty chemicals distribution space.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/mercianlogistics

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries15 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cathay