Warwickshire logistics group Panther roars on with new acquisition

WARWICKSHIRE logistics group Panther has expanded its operations with the acquisition of a Yorkshire delivery business in an undisclosed deal.

The group, which specialises in the two-man delivery sector, has taken on the share capital of rival two-man delivery firm, Hi-Way Express, from the Pacifica Group.

It is a move which will not only take the Crick-based company on to a £25m turnover business within the next 12 months, but will also increase its critical mass whilst reinforcing its position as market leader in its sector.

Synergy levels between the two organisations are good, both in terms of offering and customer base – which includes major names within the retail sector.  

Due to this, the two businesses were considered a natural fit and Panther said that when the chance came to acquire the business, it seized the opportunity and the deal was concluded in just four weeks.

Based in Castleford, Hi-Way Express occupies a 200,000 sq ft warehouse where it has 57 employees.  Unlike Panther the business works solely on a sub contractor model so has no vehicles or drivers.   The business however will progressively operate under the Panther brand.

Panther has grown significantly since its decision to change its business model in December 2010 which took it from being a general transport company to focusing on the niche next-day two-man delivery market.

It was a move which has paid substantial dividends and one which has not only resulted in Panther more than trebling its turnover but has created a robust business laying strong foundations on which to continue to build.  

Panther Warehousing chairman Wilson Barrett said:  “The acquisition of Hi-Way Express marks a new era for Panther and is one of the most exciting developments in Panther’s history since we changed our business model in 2010.

“We have been looking for an M62 corridor depot for a number of months and this acquisition has given us a prime opportunity to increase our critical mass as well as provide us with the right depot location.

“By merging the two companies we are now the leading dedicated next-day two-man white glove delivery specialist in the UK which places is in an incredibly strong position on which to continue to build.”

Kevin Brown, group managing director, Pacifica Group added: “Both Pacifica Group and Panther Warehousing were founded on the principle of providing high quality customer service, the ethos and management team within Panther will not only ensure a smooth transfer but also offer an increased range of customer services to the existing client base.
 
“The Pacifica Group board would like to place on record their gratitude to all HEHD staff for their hard work and commitment throughout their time with us and we wish them and Panther Warehousing every success in the future.”