Palletways Group has been bought by South-African group Imperial Holdings in a transaction worth £163m. The pallet network’s previous owner, Phoenix Equity Partners, purchased the company in 2004 when it backed CEO James Wilson’s takeover. At this point Palletways was 10 years old as a business with a definite UK focus. Since then, the network has transformed itself into a pan-European network operating in more than 20 countries through a mix of directly owned hubs and line-haul agreements with domestic hauliers. […]
Gist reported a £33m pre-tax profit in 2020, bouncing back from a loss the previous year caused by £28.5m in costs incurred due to the closure of its pension scheme to new members.
Associated Cold Stores & Transport (ACS&T) said it ended last year in a strong financial position after Covid-19 resulted in a 17% reduction in turnover and knocked almost two-thirds off its pre-tax profit.
DHL Supply Chain subsidiary Tradeteam is bracing itself for further job cuts and losses of up to £7m as a result of the impact of the Covid-19 pandemic on the hospitality sector.