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 […]
The industry needs to re-examine its relationship with its customers if it is to end the rate squeeze, according to Bullet Express MD David McCutcheon. Responding to news last week that despite growth in the pallet sector, rates remained under acute pressure, McCutcheon said: “As a haulier of more than 22 years, rates have never been better for clients.” McCutcheon, who is a Pall-Ex member and has a 50-strong fleet of vehicles, said: “While pallet networks remain invaluable to hauliers, […]
One time Pall-Ex Romania rival TCE Holding has joined the network, it has been revealed.
Palletways has recruited Fusion Supply Chain Solutions (Fusion SCS) and Cammack Transport into its pallet network.