Clipper deal sees £200m turnover
YORKSHIRE-BASED logistics firm Clipper Group has clinched an acquisition that it says will take its turnover past £200m.
The Brighouse business which has a fleet of 600 trucks and stores, sorts and delivers goods for customers including Asda, Arcadia and Morrisons, has bought Stormont Truck and Van for an undisclosed sum to strengthen its vehicle fleet and servicing and repair operation.
Stormont is a £50m turnover Iveco and Fiat truck and van dealer based in the south and midlands with centres in Northampton, Dunstable, Hildenborough and Brighton.
Clipper, founded by former van driver Steve Parkin in 1992, sees the new acquisition complementing its Northern Commercials business, the Brighouse-based truck and van dealer which also handles Iveco and Fiat vehicles.
Chief executive Mr Parkin said: “Stormont is a great strategic fit with Northern Commercials and will further complement Clipper's vehicle fleet that now has more than 600 trucks, giving Clipper a competitive advantage in terms of vehicle servicing and repairs, increased buying power and fleet management capability.”
Clipper, which had considered a flotation as part of its ambitious plans to become one of the largest independent logistics businesses in the UK, is believed to be looking at several other acquisitions.
Clipper was advised by Piers Burgess and Nia Bryan of law firm Cobbetts while corporate finance and taxation advice was provided by Baker Tilly.
