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. […]
Rothertham-based 4S Distribution has joined the Palletforce network to cover the S postcodes around the Rotherham and Barnsley areas.
UPS has pulled out of its €5.16bn offer for TNT Express – in a deal that would have created a business with a combined annual turnover of £1.3bn in the UK – blaming European Commission (EC) concerns with the acquisition. The proposed merger is expected to be prohibited by the EC, the parcel giants warned in joint statements this morning (14 January). TNT said UPS sees “no realistic prospect” that it will receive EC clearance and will formally terminate the […]
Northamptonshire-based Knights of Old has taken delivery of two new Palletforce-branded longer semi-trailers. Both are already in action – one based at its Kettering headquarters and the other at its Hitchin site. The 15.65m long double-deck trailers are part of an order for nine longer semi-trailers in total, all being supplied by SDC Trailers. The remaining seven, at least five of which will also be double-deckers, will be used in general operations in Knights of Old livery. Two of the […]