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. […]
Circle Express has become Palletforce’s third new member of 2017, while Palletways has welcomed a new haulier in the Leicester area.
The European Commission (EC) believes “substantial remedies are needed” before the proposed takeover of TNT Express by UPS can be cleared. In a merger review speech made on Friday (2 November), Joaquín Almunia, EC vice-president responsible for competition, said that “serious competition concerns would arise” if it went ahead without revisions. Last month the EC revealed that approval would only come if the resulting company would be challenged enough by other parcel firms. TNT Express and UPS have since received […]