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 […]
Rase Distribution has quit Palletways bringing an end to a troubled relationship that saw the Lincolnshire haulier challenge the network’s guidelines by refusing to deliver pallet loads weighing more than 750kg to residential addresses on the grounds of safety.
A prime mover in the development of vehicle load security rules has praised pallet networks and their members for their response to the issue.
Palletways member Rase Distribution has introduced a 750kg weight limit on tail-lift deliveries to domestic addresses after a risk assessment by owners HW Coates concluded that the network’s 1-tonne limit was putting the firm’s drivers at risk.