Buyout at Palletways

Palletways, the UK specialist in the express distribution of small consignments of palletised freight, has achieved a management buy-out with the support of a €9 million investment from 3i, the venture capital company.
Palletways has seen business increase monthon-month, resulting in a 40 per cent improvement on last year. The company will be expanding its national hub in May, which will double capacity. The management buy-out has been led
by managing director, Julian Maturi, and IT director, Paul Heaney. Peter Ashton will take on the role of non-executive chairman. He was previously involved with 3i in the buy-out of EPS. a specialist logistics provider to the telecoms industry, which was sold to Hays in 2000.
Palletways has recently launched Stargate Logistics, a stockholding facility based alongside the central hub in Lichfield. It offers a just-in-time replenishment service.