Lancashire logistics firm acquired by UK-wide transport group
Lancashire-based MKT Logistics has been acquired, for an undisclosed sum, by privately-owned Turners (Soham), which operates from 32 UK sites.
MKT provides haulage and pallet distribution services throughout the UK, with a fleet of almost 90 trucks.
It was set up in 1999 by managing director Matthew Kibble, moving to its current base in Nelson, near Burnley, nine years later.
The firm subsequently bought out Kent-based Shakespeare Transport, and Coventry’s FullForce Logistics.
Matthew Kibble, managing director of MKT, said: “I have always wanted MKT to become part of something bigger. I have known Paul, the managing director, for 14 years and I know my business couldn’t have gone to a better home.”
Paul Day, managing director of Turners, said: “We only purchase well-run transport companies and MKT Logistics fit in to that category.”
MKT was advised by a team from Lexington Corporate Finance, comprising Tom Coombes, Pablo Shorney and Adam Jones.
Tom Coombes, director at Lexington Corporate Finance, said: “Along with his wider team, Matthew has built an exceptional business with a strong reputation in the logistics sector and with his customers alike.
“There is an excellent strategic fit between the two companies and we look forward to seeing the combined business become greater together.”
He added: “This represents another successful transaction in logistics and distribution for Lexington, following on from the sale of AIM Logistics to Fowler Welch last year. We continue to develop our sector expertise.”
Legal advice to the owners was provided by Capital Law, tax advice was provided by Parisi Tax and accounting support was provided by SB&P.