Ketra Logistics has acquired fellow Palletways member IEFS to expand its coverage in London.
Ketra MD Martyn Young takes over the Barking-based business from Derek Best, who has retired after more than 20 years at the helm.
Young said the two companies will continue to operate independently.
The purchase of IEFS, which specialises in next-day palletised distribution, increases Ketra’s fleet by 60%.
According to accounts filed at Companies House for the year to 31/1/16 Ketra Logistics had an annual turnover of £5.4m and made a pre-tax profit of £175,398. Ketra Logistics is the bigger of the two firms by O-licence. It is authorised for up to 28 trucks and 28 trailers while IEFS has O-licences for 16 trucks and 11 trailers.
Young said: “This is an exciting development for Ketra as there are many operational synergies between the two organisations and along with our network partner Palletways it presents opportunities to expand our coverage within London.
“Our customers continue to grow in the UK and this venture helps meet new demand. We have ambitious growth targets for 2018 and this acquisition will allow us to not only better service our existing customers in that area but also attract new business in the vicinity.”
Ketra Logistics was founded in 1979 and provides a range of distribution services and solutions in south east London and north Kent.
In 2015, Ketra Logistics made its largest and heaviest delivery to that date, when it transported a life size dinosaur from London to Kent.
