Glasgow-based Monarch Transport is under new ownership after the completion of a management buyout (MBO) at the firm. John Weir and Derek Anderson completed the acquisition of the business this month, having begun the process with an initial payment last December. The deal, supported by an independent bank, sees founder David McFarlane, a Palletforce founder haulier-member, exit, although he will continue to advise the business as a consultant. Monarch Transport, based at Moorpark, also has a depot in Hucknall, Nottinghamshire. […]
FedEx has made an offer to acquire TNT Express, valuing the business at €4.4bn (£3.2bn), in a deal that both parties describe as having a high level of certainty.
Pall-Ex has purchased the pallet distribution business of Surrey-based member Cranleigh Freight Services.
A focus on growth, rather than reducing cross-company costs, will be Abbey Logistics’ priority after its acquisition of Armet Logistics.