Deal agreed for Europa Worldwide
LOGISTICS firm Europa Worldwide Group, which has a base in Trafford Park, has been acquired by a Nottingham transport entrepreneur.
The London-based firm, which operates from nine sites, has been bought by Andrew Baxter who sold Nottingham-based RH Freight to Kuehne + Nagel in March 2011.
Europa, which has 30 staff in Manchester, has a turnover of £73m.
Mr Turner has bought the business from Grenville Turner, Russell Keep and Andrew Kennedy who acquired it in a 2007 management buyout. Mr Keep is retaining a 10% stake and will stay on as group finance director.
Mr Baxter said: “I have spent some time looking for the right opportunity and am very excited about the potential here at Europa. The company has an excellent reputation and a good track record and I want to build the business to become the clearly recognised, number one groupage operator in the UK.
“I also believe the company has great potential outside of its European operations, in air, ocean and logistics, and we will be looking at what we can do to further develop these businesses.
“It will be business as usual for the next few months whilst we take time to evaluate the current set up. We already have plans to invest £1.5m in new IT infrastructure to help improve efficiencies and communication. There is a strong branch network which could be boosted further with other new sites to give a denser coverage of the UK.”
The value of the deal was not disclosed.
