Palletforce makes strategic acquisition to strengthen network
PALLETFORCE has bought QTR Transport as it continues to invest in the growth of its network.
The move is in line with Palletforce’s desire to have the best possible network member for every UK postcode and the move will help support and complement the company’s existing membership in the region.
Earlier this year Palletforce acquired London-based member UK Freight Masters, invested heavily in IT and work has begun on the construction of a £50m SuperHub development at its Burton headquarters in Staffordshire.
QTR Transport is based in Newbury, Berkshire, which makes it a strategically attractive position as it provides quick access into the Midlands and west London and gives Palletforce.
QTR’s location and capability will also allow Palletforce to examine the opportunity to create a southern hub.
Palletforce chief executive officer Michael Conroy said: “Strategically, the investment in the purchase of QTR Transport is an extremely important, long-term solution for Palletforce and we’re excited by this acquisition.
“Not only does it offer financial and operational advantages, it adds significant infrastructure to complement our existing fantastic membership in the adjoining areas. Palletforce promised to continually invest in its infrastructure and network and this is another example of our pledge.”
Financial advice was provided to Palletforce on the acquisition by Charles Cattaneo and Gary Hyem of Cattaneo LLP and legal advice was provided by Adrian Possener and Nick Burt of Birketts.
