Kinaxia Logistics has made its tenth acquisition with the purchase of Palletline-member AKW Group for an undisclosed sum.
Announcing the deal the UK haulage and warehousing company said it is planning further acquisitions over the next 18 months.
Kinaxia said the purchase of the Trafford Park-based group, which includes Global Logistics and AKW Global Warehousing, is aimed at strengthening its presence in the North West and in the Midlands through AKW’s Birmingham depot.
AKW Group,which has a turnover of around £30m and employs more than 300 staff, has operating licences for 144 trucks and 202 trailers.
This is the tenth purchase Kinaxia Logistics has made since 2012 in an acquisition spree fuelled by a £25m warchest.
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Kinaxia’s stable also includes Bay Freight, William Kirk, NC Cammack & Sons, Foulger Transport, Lambert Brothers Haulage, Panic Transport (Contracts), AJ Maiden & Son, Mark Thompson Transport and BC Transport.
AKW Group is also the fifth Palletline member to be bought by Kinaxia, following on the heels of William Kirk, Foulger Transport, Lambert Bros and Panic Transport, although both Foulger Transport and Panic Transport have since left Palletline membership.
This latest purchase sees founder and chairman Tony Worthington retire and director Paul Welsh join Kinaxia Logistics.
All staff and management at the group will be retained.
Kinaxia Logistics director Peter Fields said: “Kinaxia has established itself by acquiring successful, well run, high service-level, family owned companies and AKW is a perfect fit with our strategy of both deepening and broadening our position in the UK logistics market.
“AKW’s decision to become part of Kinaxia provides them the best way of continuing their growth whilst securing a future for their business and employees. We are delighted to welcome the AKW management team into the group and am confident that their extensive skills, knowledge and experience will help us extend our reach and further enhance customer service levels.
"We will continue making further investments in the next 18 months in order to build a leading service-focused haulage and warehousing group covering the UK.”
AKW Group founder Tony Worthington said: “We are delighted to be joining Kinaxia Logistics as this will take AKW Global to the next level and establish a secure future for the business and its employees and customers.
"We look forward to working with the other Kinaxia subsidiaries to provide additional services and accessing new opportunities for growth.”
