Autologic has made its third asset acquisition from failed car transporter hauliers in as many years. Through its subsidiary Walon it has acquired certain assets of Spirit Motortransport, which entered administration on Friday 11 May. Autologic says the assets acquired comprise car transporters, IT and office equipment and the goodwill attached to the Spirit name. Avril Palmer-Baunack, chief executive of Autologic, says: “We have taken the opportunity to acquire further key assets that strengthen our operational transporter fleet, which is […]
Autologic says its acquisition of the assets of Sensible Transport will add £6m a year to its revenue, but warns that automotive customers remain “focused strongly on price”. For the year ending 31 December 2011, Autologic saw its UK revenue rise 4% to £114.5m (2010: £110.6m) but operating profit in its UK arm fell from £3.2m a year ago to £3.1m. It says that contract pricing in the automotive sector remains competitive, with customers focused strongly on price. The company […]
BCA Marketplace, which owns WeBuyAnyCar.com, paid £16m in cash for Eddie Stobart’s automotive logistics business when it purchased it earlier this year.
Stobart Group has shaken off a tough start to the year by revealing a 7.2% improvement in the profitability of its transport operations, and a 13% leap in turnover driven by the addition of Autologic.