Eddie Stobart Logistics has purchased The Pallet Network (TPN) for £52.8m. The operator confirmed today (28 June) that it had entered into an agreement to acquire the share capital of the pallet network, which comprises 106 regional hauliers (members) on a cash and debt-free basis. It has done this, in part, via a £30m share placing with institutional investors (see finacing the deal below for more). Eddie Stobart Logistics signaled its intention to investors earlier this month. Alex Laffey, CEO […]
Palletline has defended itself after residents complained that vibrations from trucks accessing its London hub in Perivale were causing property damage. A local residents group, led by Vinny K-Maddage, has put Ealing Council and Transport for London under pressure to act. However, Palletline said that despite having operated from Perivale for the past five years, it was only made aware that residents had concerns this August. “As a preliminary action, Palletline implemented an alternative preferred route; instructing drivers to go […]
Investment firm Kinaxia is on the hunt for further acquisitions following the purchase of Palletline member Panic Transport (Contracts).