Abbey accelerates into new market
A COMPANY specialising in the environmentally-friendly transport of food ingredients is on track for growth after buying the assets of a North West rival.
Liverpool-based Abbey Logistics Group has secured more than £800,000 in additional asset finance facilities from the Royal Bank of Scotland to acquire 15 tractor and trailer units and 30 tankers from Macclesfield company RH Stevens.
Abbey, which won Motor Transport Haulier of the Year last year, aims to provide a smarter and more contemporary method of transport by limiting the environmental impact of the solutions provided to its customers.
It has more than 180 trucks and 230 tanks and trailers across nine UK bases, and is widely acknowledged as the UK’s leading transporter of bulk liquid food ingredients. The Stevens deal gives it access to the bulk powders market for the first time.
The funding has been provided by the Royal Bank of Scotland Corporate and Institutional team and Lombard Asset Finance.
Steve Granite, managing director, Abbey Logistics Group, said: “The recent acquisitions have increased our market presence even further and will help fulfil our ambition of providing more eco-friendly transport options to our customers.”
John Csizmadia, relationship director, RBS Corporate & Institutional Banking, said: “Abbey is a perfect example of an excellent regional and environmentally conscious company that we are delighted to be able to help.
“The deal underlines our own ambitions of helping innovative local companies through effective funding. We are excited to help Abbey reach its goals, and are looking forward to helping the firm develop into an even bigger, market-leading logistics operation in the near future.”
The acquisition of the assets of RH Stevens follows the purchase in 2010 of the palletised haulage business, TP Farrell.
