Aspray Group has been acquired by Bushell Investment Group for an undisclosed sum. The company, which owns BIG Property Finance a short term loans specialist, said the buyout came after months of discussions between the two parties. Aspray Group, which is made up of three divisions: Aspray24 (registered as Aspray Transport at Companies House), Aspray Logistics and Aspray International, was previously owned by holding company Nationworld. Lee Bushell, CEO of Bushell Investment Group, which is based in Birmingham, said: “The […]
Express carrier Aspray24 is celebrating its 30th anniversary in 2013 and has marked the occasion with the opening of its new £6m state of the art warehouse on a six-acre plot next to its existing 12-acre site in Noose Lane, Willenhall. According to MD Stuart Laight, the acquisition of the site next door has delivered a number of great benefits for the fast-growing business.
A shortage of drivers, the introduction of Driver CPC and a drive to improve its services saw Aspray Transport’s pre-tax profit fall in the year ended 30 June 2016, despite turnover growth of more than a third.
Aspray Transport’s Company Voluntary Arrangement (CVA) will see £1.9m of debt to certain creditors being written off as well as redundancies, motortransport.co.uk can reveal.