Esken

In August 2006, realising that property prices were reaching the peak of the market, the Westbury Property Fund decided to re-position its portfolio towards the logistics sector, buying Weston Point Docks in Runcorn, AHC Warehousing and the rail operations of Victa Westlink Rail in March 2007.

It then agreed an asset swap deal in August 2007 with the privately owned investment company WA Developments, whereby Westbury would sell 90% of its non-logistics related property portfolio to WA Developments in return for its Eddie Stobart Ltd subsidiary.

In January 2021, Stobart Group announced that following shareholder approval, it would change its name to "Esken Limited" in February 2021.

In August 2006, realising that property prices were reaching the peak of the market, the Westbury Property Fund decided to re-position its portfolio towards the logistics sector, by buying Weston Point Docks in Runcorn, AHC Warehousing and the rail operations of Victa Westlink Rail in March 2007.

[9] The Group also announced it was buying the remaining 50% of Stobart Biomass Products it did not already own for £20 million.

[11] In January 2013, following an under-performing share price, Stobart Group's largest shareholder, Invesco, initiated a number of boardroom changes.

In October 2013, Stobart Group appointed Iain Ferguson CBE as independent Non-Executive Chairman.

[20] On 4 June 2020, the firm announced another Placing and Open Offer consisting of 200,046,312 Firm Placed Shares and 49,953,688 Open Offer Shares at 40p each to raise gross proceeds of £100 million to provide additional liquidity and to enable its Aviation division to deliver on its long-term strategic ambitions.

[23][24][25] Stobart Group confirmed on 11 January 2021 that, subject to shareholder approval, it would change its name to "Esken Limited" (meaning 'to ascend, to climb and to rise'; related to the Latin ascendo and the modern Welsh esgyn on 3 February 2021.

[30] After the company's restructuring plan was found to be "no longer commercially viable", the business went into administration on 21 March 2024.

At the time, the book value of London Southend Airport's assets were £25.5 million, and the acquisition was later described as a "bargain purchase" by the Stobart Group.

Following an independent shareholder vote, the acquisition was completed in May 2009, and the purchase price was reduced to £9.9 million due to a fall in the value of Stobart Group shares.

[36] In April 2021, Isle of Man based Ettyl Ltd announced it had agreed to purchase Carlisle Airport, together with airline Stobart Air, from Esken.

[39] On 11 October 2010, the Stobart Group announced that it was purchasing 35 convertible preference shares of €1 each in the parent company of the Irish airline Aer Arann, Everdeal Ltd, through its subsidiary Aer Arann UK Ltd, for €2.5 million, enabling it to have a 5% stake in the airline.

At the same time, Aer Arann announced that it would start twice daily flights from Stobart Group's London Southend Airport to Galway and Waterford in Ireland from 27 March 2011.

[42] On 11 January 2019, the Connect Airways consortium formed by Stobart Aviation and Virgin Atlantic announced a takeover bid for Flybe.

[45] Flybe's operating assets were transferred to Connect Airways on 21 February 2019, despite a last-minute rival bid.

[48] In April 2021, Isle of Man-based company Ettyl reached an agreement to buy Stobart Air and Carlisle Lake District Airport.

[50] The Moneypenny Property Portfolio comprises the company's portfolio of properties, including retail sites, light industrial buildings and distribution centres, office space and holdings which are owned or used in the Group's day-to-day business.

[52] On 11 January 2019, the Connect Airways consortium formed by Stobart Aviation and Virgin Atlantic announced a takeover bid for Flybe.

[53] Flybe's operating assets were transferred to Connect Airways on 21 February 2019, despite a last-minute rival bid.

[46] On 5 March 2020, the consortium was unable to commit further financial support and Flybe entered administration, ceasing all operations.

Developments Ltd. was renamed Stobart Rail Ltd and became responsible for all the railway maintenance and infrastructure activities of the group.

New London Southend Airport terminal building
The company's Carlisle office is located in the Carlisle Lake District Airport terminal building
Stobart Air ATR 72
Stobart Chilled distribution depot
Flybe (Stobart Air)
A Flybe ATR 72-500 (operated by Stobart Air)
Stobart Rail Civil Engineering Ford Transit van
Teesside Airport Terminal
Stobart Aviation London Southend Airport Mercedes-Benz "Aqua" van
Stobart Biomass Scania R480 "Evie Sophia" lorry