Nottingham logistics firm on the acquisition trail
Logistics firm Europa Worldwide Group has announced a reorganisation of its business that it says will pave the way for acquisitions.
Europa, which has a site at Colwick Quays in Nottingham, says that it will turn its various operating divisions – Road, Air and Sea – into separate legal entities.
Managing director Andrew Baxter said: “2017 has been our most successful year on record. Turnover has surpassed £140m, organic volume growth across the business is running at 25 per cent and our presence in the market is stronger than ever before.
“For a large part of the last four years since we acquired Europa, growth was not the primary objective. However, now that the restructuring is complete – in which we introduced divisions to the business for Air and Sea, Warehouse and Showfreight – growing the scale of the business, whilst achieving satisfactory levels of profitability, is the core strategy.”
He added: “Going forward, we plan to complete one or two acquisitions a year, working to develop all areas of the business. We are looking to develop all of our international markets, not just our Road offering, and we are going to be constantly on the look out for businesses which will add strength to our market position in one of our core sectors.”
Europa Worldwide Group’s 2016 annual results revealed turnover saw a £20m increase on the previous year, while profit before tax increased to £2.3m from a loss of £1.6m in 2015. All divisions of the business – Air, Sea, Showfreight, Road and Warehouse – have also all seen turnover growth respectively this year.
