DEALS CONTINUE TO TRANSPORT FIRMS TO NEW HORIZONS
The dealmaking activity around the logistics and transport sector shows no signs of slowing down.
In the latest move involving a Lancashire transport firm, Nelson-based MKT Logistics was acquired by privately-owned Turners (Soham), which operates from 32 UK sites. No figure has been put on the deal.
MKT provides haulage and pallet distribution services throughout the UK, with a fleet of almost 90 trucks.
It was founded in 1999 by managing director Matthew Kibble, moving to its current home in east Lancashire nine years later.
MKT has had its own growth journey through acquisition, with deals to buy out operations in Kent and in the West Midlands.
Its new owners say the acquisition is part of its strategy to strengthen its geographical footprint across the UK.
MKT was advised by a team from Lexington Corporate Finance, whose director Tom Coombes said: “There is an excellent strategic fit between the two companies and we look forward to seeing the combined business become greater together.”
Matthew Kibble, managing director of MKT, said: “I have always wanted MKT to become part of something bigger. I know my business couldn’t have gone to a better home.”
Paul Day, managing director of Turners, added: “We only purchase well-run transport companies to the Turners group and MKT Logistics fit in to that category.”
The past 12 months has seen a flurry of activity in the sector, as businesses look to
expand their horizons. Industry watchers have predicted more companies will look to take the route to growth and diversification through acquisition.
As Lancashire Business View reported earlier this year, WH Bowker is one of those businesses. The Bamber Bridge based company is already one of the UK largest private operators, specialising in chemical, pharmaceutical, and food grade logistics.
We look forward to seeing the combined business become greater together
Earlier this year it acquired two operations in Greater Manchester for an undisclosed sum. The deal for Rochdale firms James Nuttall (Transport) and Queensway Commercials added 48 vehicles to its commercial fleet.
Bill Bowker, director of the family run firm, which has been in business for more than a century, said the opportunity for growth played a major part in the deal.
Altham based North West Logistics also hit the acquisition trail, with the support of a seven-figure funding package from HSBC UK.
With more than 60 vehicles in operation, supported by 100,000 sq ft of warehousing
space, the business has customers across the UK, ranging from SMEs to large multi-nationals.
It acquired Proserve Logistics, a Wrexham- based operation with more than 400,000 sq ft of warehousing space, supported by a fleet of 15 vehicles.
As a result of that deal, and the inclusion of an expanded customer base, the combined revenue of the new group will increase to £17m, and over the next two to three years that figure is expected to increase further.
The activity is not confined to traditional logistics operations. In July it was announced that MBE Worldwide had acquired a majority ownership share of World Options, the Accrington-based logistics firm which ranked in Lancashire Business View’s list of the 100 most profitable SMEs this year.
World Options provides shipping, delivery and logistics services to more than 10,000 customers through a network of more than 120 franchisees and agents across the UK, USA, Australia, the Netherlands and Belgium.
MBE, based in Milan, provides e-commerce, fulfillment, shipping, marketing and print solutions to businesses and consumers. In 2021, MBE served more than one million business customers worldwide, generating almost £1bn in revenues, with more than £20bn additional income through its PrestaShop brand.
Stewart Butler, chief executive and founder of World Options, said of that deal: “Combining forces with MBE creates unique opportunities to grow our business in new ways to benefit our franchisees and our loyal customers.”
LANCASHIREBUSINESSVIEW.CO.UK
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LOGISTICS
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