Refrigerated-rental firm Petit Forestier is to buy leasing and rental provider Fraikin in a deal that will create a European player with combined sales of €1.3bn (£1.09bn). Villepinte, France-based Petit Forestier has entered into an exclusivity agreement with Fraikin to acquire 100% of the business with financial backing from CVC Capital Partners and Eurazeo. Petit Foresiter has 228 depots in Europe and the Maghreb region with 42,700 vehicles. Frakin – founded in 1944 with headquarters in Colombes, near Paris – […]
They told us it would happen: in April 2012, advisory firm KPMG predicted a flurry of mergers and acquisitions in the logistics and distribution sector during the year… and that’s exactly what we got. Top of the pile in terms of the most noteworthy was undoubtedly the UPS/TNT Express merger announced in March and set to create a £37bn turnover logistics giant. The takeover was described at the time by TNT Express chief executive Marie-Christine Lombard as a move that […]
Tuffnells Parcels Express contributed £114m of revenue and £9.7m of operating profit to its new owner Connect Group in the year to the end of August, group chief executive Mark Cashmore has revealed.
Hargreaves Services has purchased civil engineering and earth moving group Pryor, after the latter was placed into administration.