TDG, the logistics group that runs supermarket group J. Sainsbury’s supply chain, has been acquired by Laxey Partners in a deal which values the business at £203m.

The Isle of Man investment firm is offering 250p a share in cash for TDG or 200p a share for TDG and 6.625 shares of LIT, a newly formed acquisition vehicle which will be traded on London’s Aim junior market.