Sun Capital Partners has abandoned its interest in making a bid for Clipper Logistics. Clipper executive chairman Steve Parkin, who founded the company in 1992 and owns nearly a third of its shares, was understood to be preparing a £300m bid with the Florida-based private equity firm to take Clipper off the stock market. However, following an extension to the bid deadline to allow further discussions, Sun Capital has announced it is no longer considering an offer. Sources suggest the […]
TNT Express said it does not expect to see the full benefit of its profit improvement strategy until 2018-19, as it admits it did not acheive the turnover and profitability it expected in 2014.
Viridor, the refuse and recycling operator, saw its turnover boosted by an acquisition spree last year, but profit fell as growth in recycling failed to offset a fall in landfill volumes. Viridor bought JWS Churngold for £14.25m in November 2011, having purchased Storm Recycling in June of that year and In January 2011 Veolia’s trade waste collection interests in Cornwall and North Devon and its industrial and commercial collection interests in Devon and Somerset. The company, which now makes half […]
Wincanton is confident in its growth prospects for the current financial year, as it begins to see the benefits from the disposal of its records management arm and the termination of loss-making contracts in its Pullman Fleet Services business.