FedEx UK made four acquisitions totalling £13.8m in the past 10 months – but has declined the opportunity to say why.
The acquisitions are noted as events that took place after the closure of the most recent financial year at the UK arm of the international express delivery giant on 31 May 2016.
On 3 June 2016 it acquired 100% of Roseglen Enterprises for £1.9m.
Companies House describes the activities of the firm as “postal activities under universal service obligation”.
On 29 July 2016 it acquired TTD Transport for £2m, while on 25 November 2016 it acquired ANC Harlow for £5m.
Both are listed at Companies House as providing ‘freight transport by road’.
Meanwhile, on 3 February it acquired Poole Express- formerly a subsidiary of Wyvern Holdings, the holding company of Wyvern Cargo - for £4.9m.
Turnover at Poole Express rose to £9.3m in the 12 months ending 31 March 2016 (from £8.8m in the previous year). It made a pre-tax loss of £24,166 in its most recent financial year, after turning a profit of £103,599 in the previous 12-month period.
Motortransport.co.uk asked FedEx why it had made the acquisitions, but was told the company did not have any available spokespeople and would be declining the opportunity.
Wyvern Cargo said it did not wish to comment on the sale.
In the financial year ending 31 March 2016, FedEx UK saw turnover rise to £253m from £244.8m in the previous year, while pre-tax profit dropped slightly to £32.9m from £34.3m.
