Xpediator invests in UK-based freight forwarder
Xpediator, a provider of freight management services across the UK and Central and Eastern Europe, has acquired the UK-based international groupage freight forwarder and operator, Nidd Transport Ltd for £4.6 million.
Acquisition highlights:
• Nidd based in Ripon (North Yorkshire) specialises in daily express deliveries to mainland Europe by road with particular focus on France, Spain, Portugal and Germany as well as a providing a strong UK distribution platform particularly in the North of England.
• Established in 1984, Nidd has built up long-term customer relationships with Northern based businesses in the UK through a high-quality service provision of European and nationwide distribution and storage.
• Complementary acquisition with immediate cross-selling opportunities and a natural fit with the Group’s existing operations.
• Generated revenue of £11.0 million, operating profit of £0.5 million and profit after tax of £0.4 million during the year ended 30th April 2020.
• Net assets include freehold property of HQ and warehouse valued at £2.1 million, as at 30 April 2020.
Robert Ross, Xpediator CEO, commented, “We have known Nidd Transport for some time and its reputation for being an excellent regional freight forwarder. I am therefore delighted Tony has chosen to entrust us with the future of his business and all the people who work for Nidd. Our aim is simply to continue to grow the company and we are confident we can do so.
Our client bases are similar but do not have significant overlap and while our services our comparable our geographic focuses are different. There are therefore immediate opportunities to provide greater geographic coverage to both client bases and we expect both existing client bases to benefit from the enhanced service offerings.”
Tony White, Managing Director, Nidd, said: “It was important to me to find the right buyer for our Company and I believe we have done so, ensuring it’s long term success with a bright future for the loyal team of colleagues that have supported me over the years. While I am stepping away from the business I believe, by becoming part of the Xpediator Group, the future prospects for Nidd will be enhanced, in terms of continuing to provide our clients the high quality service they have enjoyed, together with being able to offer expanded services which will also create opportunities for the business to gain new clients.”
