Hilary Devey sells Pall-Ex

Pall-Ex’s owner and Dragon’s Den star Hilary Devey CBE has agreed to sell the Coalville company to its network membership and management.

Contracts were signed on the 15th October 2019 with completion anticipated for the 31st October 2019.

The management team have also committed to shares within the company with share ownership being made available to the entire UK membership and its International partners.

David Fairbrother of ADD Express, Maggie Larimore of PMB Pallets and Craig Stevens of STD Developments, who have all known and worked with Hilary Devey for over twenty years, negotiated the transaction alongside Kevin Buchanan, Group Managing Director of Pall-Ex.

Larimore said: “Hilary has been a driving force in the development of pallet distribution and has turned the Pall-Ex name into an industry-leading International brand. This purchase is the perfect way to preserve the legacy she has built.”

Devey, who started Pall-Ex in 1996, has decided to step away from the day-to-day running of the business after almost 25 years. She will continue to work with the new owners in an ambassador role to help develop their International services and European partner development.

Buchanan said: “Pall-Ex will offer a unique proposition in the sector with management, UK members and International partners all working together as owners to further enhance Pall-Ex as the quality network of choice. We would like to thank Hilary for enabling us to take the next step on this incredible and exciting journey.”