Abbey Logistics Group has acquired the majority of the assets and customer base relating to the bulk powder transport business of Seafield Logistics.
Seafield Logistics is a major player in the UK bulk powder transport market, with significant contracts in food and non-food markets. It ranked 55 in Motor Transport’s Top 100 operators for 2013, with turnover of £41.3m for the 18-month period between 1 July 2011 and 31 December 2012, when it also posted a pre-tax loss of £362,000.
Steve Granite, MD at Abbey Logistics, confirmed his company had officially taken over Seafield's Winsford, Middlewich and Immingham bulk transport operations today (11 June).
As a result of the acquisition, Abbey’s fleet will be boosted by 47 trucks and 57 powder tanks, taking the company’s powder fleet to 104 trucks and 129 tankers in total. Abbey also secured the jobs of 70 employees, who will transfer across to the company under TUPE regulations.
Granite said “We are extremely pleased to have secured this deal, which is a significant step forward for our bulk powder division. We entered this market in 2011 with the acquisition of RH Stevens, we organically grew that business by 120% in three years and this latest acquisition will take that growth to 320% in four years.”
He added that this latest purchase “fits perfectly with our strategy” to grow Abbey in three core markets - bulk liquid, bulk powder and palletised transport - and gives customers a significant alternative to the longer established providers in the bulk powder transport market.
“Our plan is to invest heavily in this new business,” said Granite.
The deal is expected to add around £6m revenue, taking group turnover to an expected £42m for the year ending June 2015 - £7m ahead of forecast.
Motortransport.co.uk was unable to reach Seafield Logistics for comment.
