Eastleigh, Hampshire-based Lambert Brothers has been acquired by Kinaxia Logistics, an investment company that also acquired Snetterton, Norfolk-based Foulger Transport last month.
Lambert Brothers, which is a Palletline member, follows in the footstep of Bay Freight, William Kirk (2013) and NC Cammack & Sons (2013), as well as Foulger Transport, in being acquired by Kinaxia.
Clive Watkins, MD at Lambert Brothers,who will continue in his role, said the message following the deal was that it was “business as usual”.
“Kinaxia have bought Lambert Brothers in order for the company to continue to grow and be successful, and we have joined a group that shares our aspirations; to look after our customers and continue to invest in the growth of the business, by expanding existing customer relationships and building new ones," he said.
“We will be working with our new sister-companies, as part of the Kinaxia Group, to further enhance our services and generate opportunities,” added Watkins.
The deal has allowed Ray Lambert, 79, to retire from the business he founded 55 years ago, after a 64 year long career in transport. Watkins said that the initial introduction to Kinaxia had been made as a result of the firm's joint venture with William Kirk. This has seen the two hauliers work together for the past nine years delivering consumer products for a customer in the North West, with Lambert covering the southern work.
According to its website, Kinaxia made its first investment in the sector in Stalybridge, Cheshire-based Bay Freight in January 2012. It has this year backed a MBO at the firm lead by Danny Bailey, son of company founders Susan and Ernst.
The Foulger deal was completed in the past few weeks.
Kinaxia is lead by directors Graham Norfolk and Peter Fields. Norfolk was a partner at accountancy firm BDO and has had a number of investments. He is listed as a director of a digital marketing firm, Once Upon a Time in London alongside Kinaxia.
Fields has more than fifteen years experience in and around the chemicals sector. He is currently listed as a director, alongside his role at Kinaxia, at lawyer finding firm Azure Legal.
