Monex Group is continuing on the acquisition trail, buying a 45% stake in Essex-based haulier A J Ostridge Transport as it expands its operations into the East of England.
This latest purchase follows Monex’s acquisition of Newport-based Freight Movement in March this year, following its fall into administration, and Lancashire-based Richardson Traction in December last year, after the company had called in the administrators.
A J Ostridge Transport, which has its headquarters in Maldon, was founded more than 25 years ago. It provides general haulage, container transport and outdoor storage services.
The business operates a fleet of around 15 vehicles and employs approximately 20 staff, all of whom will remain with the business following the deal.
The investment is the first stage of a wider acquisition, with Monex Group providing financial, commercial and operational support while A J Ostridge Transport continues to operate under its existing management.
Monex Group, headquartered in South Wales, operates across road transport, warehousing and specialist logistics through a number of businesses. These include Monex Logistics, Monex International, Monex Cranes, Monex Marine, Monex Distribution, Monex Academy and Pike Logistics. Across its transport operations, the group operates a fleet of more than 150 vehicles and 350 trailers.
Matthew Elms, Monex commercial director, said: “We are delighted to welcome A J Ostridge Transport into the Monex Group. This is exactly the kind of business we look for and align with; a well-respected, family-run operator with deep local roots, a loyal customer base and a strong reputation for quality service.
“This investment represents an important step in our strategic expansion into the East of England. By combining A J Ostridge Transport’s local knowledge and expertise with the scale, infrastructure and support of the Monex Group, we can create new opportunities for growth while continuing to deliver the high standards customers expect.
“Crucially, this partnership is about building on what is already a successful business. Alan and his team have created something to be proud of over many years, and we are committed to supporting them to take it to the next stage of its journey.”
Alan Ostridge, A J Ostridge Transport director, added: “This is an exciting step for our business. We’ve spent over two decades building a company we’re proud of, alongside our team, and joining forces with Monex allows us to grow while keeping the values that matter most to us.
“With the backing of the Monex Group, we can invest further in our fleet, our people and our services, giving even greater confidence to our customers as we look to the future.”
Monex said the transaction will expand its geographical coverage and support the continued growth of its UK transport and logistics operations.
