Pall-Ex sale completes

The sale of Pall-Ex Group to its UK membership and senior management team has now been completed.

RUN D.M.C Investments, a company created by Pall-Ex founder members Dave Fairbrother, Maggie Larimore and Craig Stevens, funded the initial membership part of the acquisition.

Dragons’ Den star Hilary Devey CBE agreed to sell the Coalville-based haulage network last month.

The deal makes Pall-Ex the first UK network to be owned by industry personnel from within the business and throughout its membership.

Larimore said: “We are delighted that more than 70 per cent of Pall-Ex’s UK membership will be shareholders and that the senior management have chosen to commit their long-term futures to help us grow.”

Kevin Buchanan, CEO of Pall-Ex Group, added: “The senior management have bought into a five-year vision to build Pall-Ex, which is already an outstanding brand, into a market-leading European network. We are already in discussion with our International partners to invest further into Pall-Ex Group to deliver an ambitious development programme. We are also actively growing our UK network membership, to further increase our shareholder members within Pall-Ex UK.

“I am excited about this journey and how far we can take the business, we have some key developments happening in the next few weeks, and so will be releasing information about these in due course.”

The Group’s new owners are now discussing shareholder options with Pall-Ex’s international partners.