Lloyd Fraser 3PL has secured a 10-year lease on a 168,000sq ft warehouse in Magna Park, Lutterworth, as part of wider plans to build its warehousing capacity to 1.5m sq ft by the end of the year and grow the company through new acquisitions.

The company’s drive into the 3pl sector follows its acquisition by private equity firm Barbican Capital in March last year.

Launched in 1987, Lloyd Fraser Group specialises in fashion logistics and milk collection contracting and operates 15 depots around the UK. It has operating licences for 267 trucks and 256 trailers.

Under Barbican’s ownership the group, which has its headquarters in Rugby, is now turning its sight on the 3pl sector by expanding its warehousing capacity. It is also on the acquisition trail targeting companies that will complement its group activity.

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Speaking to Motor Transport, Anthony Finlayson-Green, group chief executive of Barbican Capital and Lloyd Fraser Holdings said Barbican already had 3PL interests in Ireland and had seen an opportunity to create a similar 3pl business in the UK by buying Lloyd Fraser.

Referring to the acquisition he added: “It changes and enhances a traditional and stable business, putting it on a new and exciting path – there is a lot of investment going on in people, with a new team having been put together and the creation of new jobs.”

The company is also currently strengthening the management team and has recently taken on board Craig Welch as chief operating officer of Lloyd Fraser Logistics. Welch joins from Menzies Distribution where he was the strategic development manager.

Pointing to Lloyd Fraser’s 36-year history, Finlayson-Green added: “We already have a pedigree in fashion, general haulage and in milk transport but this strategy adds to that. We are also planning more acquisitions and have a list of logistics and haulage businesses that we think will complement the business.”

He said the company took possession of the new warehouse at Magna Park last week and has already signed up its first customer, with more to follow and is now working on opening a 450,000sq ft facility.