Equity firm ACC Capital has bought a majority stake in Lubbers Transport Group as part of a management buy-out at the firm. The deal sees the management team at Lubbers, which is lead by CEO Ger Englsman, invest alongside ACC, with the existing shareholders (Ronald Lubbers and UK MD Tony Tailford) retaining a minority interest in the business. Lubbers specialises in serving the oil and gas industry in Europe, and in 2005 Lubbers of the Netherlands merged with RTH in […]
Lombard, the asset finance division of the RBS Group, is actively seeking funding opportunities in road transport, bucking the trend which has seen several lenders leave the market since 2008. Lombard’s head of commercial transport, Derek Pridmore, says it is not the case that operators looking to fund new vehicles have little choice but to use manufacturers’ captive finance offering. “We financed £250m of truck sales in 2011, making Lombard the biggest single funder of CVs in the UK,” he […]
NWF Group, parent of Boughey Distribution, has recruited Brendon Banner as its new group finance director. Banner, who will take up his role in early November, is currently group finance director at steel engineering and fabrication group William Hare. He replaces Jonathan Ford, who is leaving NWF at the end of September to take up the role of chief financial officer at HomeServe. Earlier this month NWF reported that Boughey Distribution has seen turnover fall by £2.2m after the loss […]
A new one-man delivery service has led Panther Logistics to a new contract with bed retailer Sleep Design.