Who Owns Southend Airport? Eddie Stobart Involvement Explained

The Stobart Group, formerly known as Esken, owned Southend Airport and Eddie Stobart. Stobart Group sold a majority stake in Eddie Stobart around a decade ago but retained the rights to the name, which it licensed to the logistics firm. Eventually, it sold the naming rights, prompting the group to rebrand as Esken. Stobart Group has plans to focus on aviation and energy, particularly through Southend Airport, Stobart aviation services, and Stobart energy.

Stobart Group rebranded as Esken

Stobart Group, the owner of Southend Airport, rebranded as Esken in February 2021. The rebrand followed the sale of the Eddie Stobart and Stobart trademarks to Eddie Stobart Logistics for £10 million in May 2020. The deal was struck to end confusion for investors, prospective employees, and other stakeholders.

The name Esken is derived from the Cumbric old English once used in the north, and it means to climb or ascend. The new name was chosen to reflect the company's strategy for growth in the aviation and energy sectors.

The Stobart Group's CEO, Warwick Brady, explained that the name change was necessary to differentiate the company from Eddie Stobart Logistics and to underline the significant transformation the group had undergone in the preceding 12 months. He also expressed optimism about the future of London Southend Airport, stating that it was well-positioned for recovery and could offer a strong proposition for airlines.

Despite the rebrand, Southend Airport retained its original name. The group's operating divisions were also allowed to continue using the Stobart brand until May 2023.

In March 2024, Esken fell into administration after a potential restructuring plan was deemed no longer "commercially viable." The company appointed administrators from AlixPartners to protect the interests of stakeholders. However, a deal to secure the future of London Southend Airport was not expected to be affected by the administration, as the ownership transition to Carlyle and Cyrus Capital Partners was already in progress.

Esken fell into administration

Esken, the company behind Southend Airport and the former owner of Eddie Stobart, fell into administration in March 2024. Esken, which was previously known as Stobart Group, sold a majority stake in Eddie Stobart around a decade ago but retained the rights to the name, which it licensed to the logistics firm. However, when it later sold the rights to the Eddie Stobart name, this forced the company to change its name to Esken.

Esken's fall into administration came after it revealed that a potential restructuring plan was no longer "commercially viable". The company, which is registered in Guernsey, said that there were additional issues that arose under Guernsey law, which would result in compromising the rights of members. Consequently, Esken concluded that the lengthy court process needed to complete the restructuring came with unacceptable risk.

Esken's CEO, John Upton, said that the administration would have no impact on the airport's operations and that the ownership transition of London Southend Airport to Carlyle and Cyrus Capital Partners from Esken was progressing at speed. The deal with Carlyle was designed to settle the airport's £193.75 million debt to Carlyle, with Carlyle's stake in London Southend Airport increasing to 82.5% and Esken's stake falling to 17.5%.

Despite Esken's administration, the airport's CEO assured that it would be business as usual and that the upcoming busy summer period would not be affected.

Stobart Group sold Eddie Stobart majority stake

Stobart Group, formerly the owner of logistics company Eddie Stobart, sold a majority stake in the company about ten years ago. The group retained the rights to the Eddie Stobart name, which it licensed out to the logistics firm.

In 2014, Stobart Group announced its intention to reposition itself as a support services business, selling its original transport and distribution business to DBay Advisors for £281 million. Stobart Group kept the rights to the Eddie Stobart brand, licensing it out to Eddie Stobart Logistics. In 2019, DBay Advisors increased its indirect stake to 51%.

In May 2020, Eddie Stobart Logistics acquired the intellectual property rights to the "Eddie Stobart" and "Stobart" brand names for £10 million from Stobart Group to increase its brand awareness. This deal also included the merchandise business and the Stobart Members Club.

In February 2021, Eddie Stobart Logistics changed its name to Logistics Development Group. Stobart Group then changed its name to Esken, which means to ascend, climb, and rise.

Stobart Group retained Eddie Stobart naming rights

Stobart Group, the former owner of Southend Airport, sold a majority stake in Eddie Stobart about a decade ago. However, the group retained the naming rights to Eddie Stobart, which it licensed out to the logistics firm. This arrangement continued for several years until Stobart Group sold the naming rights to Eddie Stobart Logistics for £10 million in May 2023. As a result of this deal, Stobart Group agreed to change its name, rebranding as "Esken", which means to ascend, climb and rise.

Stobart Group's decision to sell the naming rights to Eddie Stobart was likely influenced by the need to differentiate its brand from Eddie Stobart Logistics and create a clear strategy focused on aviation and energy. According to the group's Chief Executive, Warwick Brady, the overlap between the two brands had caused confusion for investors, prospective employees, and other stakeholders. By selling the naming rights and rebranding, Stobart Group aimed to underline its transformation and create a more focused airport and aviation services business.

While Southend Airport will not change its name, the group's operating divisions were allowed to continue using the Stobart brand until May 2023. This temporary arrangement provided a transition period for the airport and the group's other businesses to gradually phase out the Stobart name and establish their new brand identities. Stobart Group's decision to sell the naming rights to Eddie Stobart and rebrand as Esken marked a significant shift in the group's strategy and brand identity, allowing it to focus on its aviation and energy ventures.

Esken sold naming rights, rebranded

Esken, formerly known as Stobart Group, sold the naming rights to Eddie Stobart and rebranded. Stobart Group originally sold a majority stake in Eddie Stobart about ten years ago but retained the rights to the name, which it licensed out to the logistics firm. Eventually, it sold the naming rights to Eddie Stobart, prompting the rebrand to Esken.

Esken's sale of the Eddie Stobart and Stobart trademarks to Eddie Stobart Logistics for £10 million in May 2023 was the catalyst for the rebrand. As a result of the deal, the Stobart Group agreed to change its name before the end of February 2021. The new name, Esken, means to ascend, climb and rise.

The rebrand was also an attempt to differentiate the two businesses and underline the significant transformation the group had undergone in the previous twelve months. The Stobart Group's focus shifted to aviation and energy, with plans to develop valuable growth in these sectors, particularly through Southend Airport, Stobart aviation services, and Stobart energy.

The group's operating divisions were permitted to continue using the Stobart brand until May 2023. Despite the rebrand, Southend Airport retained its name.

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