Kinaxia Logistics has bought Mark Thompson Transport, its eighth operator acquisition in just over five years. The deal is Kinaxia’s third this year; it bought Panic Transport in February and Maiden’s of Telford in May. The business also owns Bay Freight; William Kirk; NC Cammack & Sons; Foulger Transport; and Lambert Brothers Haulage. Mark Thompson, which runs 153 vehicles with its 160 employees, had turnover of £17.7m for the year ended March 31 2016, with pre-tax profit of £1.5m. Kinaxia […]
BC Transport owed almost £1.5m when it was placed into administration earlier this month, and unsecured creditors are unlikely to recover any money despite the subsequent sale of the business.
Kinaxia Logistics director Peter Fields has described his latest purchase, BC Transport, as a “good solid business with great people” that ultimately stumbled as it was carrying too much debt.
Eastleigh, Hampshire-based Lambert Brothers has been acquired by Kinaxia Logistics, an investment company that also acquired Snetterton, Norfolk-based Foulger Transport last month.