Northampton-based pallet network Fortec Distribution, is celebrating its three-year milestone as a Pall-Ex Group subsidiary.
Announcing the milestone, Pall-Ex Group said that, since being acquired, Fortec has benefitted from a number of major investments and been allowed to "retain the agility of a smaller network" while gaining the experience and resources of Pall-Ex.
The group highlighted Fortec's most recent EBITDA profit, which amounted to £286,000, in the year to July 2023, pointing out that, prior to acquisition, Fortec was losing over £2.5m per annum.
Since the acquisition, Pall-Ex Group said it has also invested in major improvements to Fortec's Watford Gap hub, including a fleet of 36 new forklift trucks worth over £250,000, and a £180,000 upgrade to the roof of its 210,000 sq. ft warehouse.
Further improvements are planned which will see Fortec’s hub capacity increase by an additional 2,000 pallets per night. The pallet network has also been connected to Pall-Ex's Nexus IT platform, which the group is continuing to enhance.
- Fortec member Brocklehurst Transport joins Pall-Ex network
- Pall-Ex completes Fortec buyout
- Pall-Ex launches ‘parcel pallet’ service to exploit gap in market
Pall-Ex Group said one of the biggest changes over the past three years has been the introduction of the shareholder model, which saw Brocklehurst Transport, Team C Express Logistics and Devereux Transport become some of the first hauliers to sign up, giving them the opportunity to acquire shares in the business and have a say in how it operates.
Fortec Distribution, which now has over 60 members, has also had the benefit of access to Pall-Ex Group’s international network and services such as Parcel Pallet, a compact pallet supporting loads up to 150kg which aims to provide a cost-effective, efficient, and secure way to send large parcel and multiple parcel consignments.
Barry Byers, Pall-Ex Group managing director of UK business units, said: “It’s been great to watch Fortec Distribution and its members thrive over the last three years.
“Our commitment to our members is our highest priority, so every investment made into Fortec has been worthwhile as we continue to watch the network grow. It’s been a fantastic partnership to date and I’m excited to see what the future holds.”