Eddie Stobart’s former boss Andrew Tinkler (pictured) claims to have secured better-than-expected support from investors for a £70m rescue of Eddie Stobart Logistics (ESL), just days after announcing his intentions. TVFB, a company controlled by Tinkler, said its proposed fundraising had already received conditional indications in excess of the £70m target, notwithstanding TVFB has not yet met a number of major shareholders. Tinkler’s move comes after private equity group DBAY proposed injecting £55m into the business in exchange for a […]
The Co-operative Food is “pleased” with the outcome of its dispute with around 700 members of staff, which was sparked by the planned transfer of 87 drivers at its Coventry depot to Eddie Stobart Logistics.
20) Andrew Tinkler, chief executive, Stobart Group Tinkler strengthened his position at the top of Britain’s best known haulage firm at the beginning of 2013. He survived an attempted boardroom coup, that could have seen former Autologic boss Avril Palmer-Baunick take charge of the group as a whole, potentially breaking up its constituent, multi-modal parts. That came to nothing in the end and Tinker was able to calm the waters, as Palmer-Baunick left in May.
Stobart Group has said the integration of Autologic into its Eddie Stobart division has been “seamless” with all assets and key personnel retained. Autologic was bought by Stobart in August, after an initial bid – valuing the company at £12.4m – was made for the company in June. The acquisition adds £144.7m of annual turnover and £2.1m of pre-tax profit to Eddie Stobart’s £519.5m of turnover and £27.4m of pre-tax profit. New deputy chief executive at Stobart Group, and former […]