3i has sold its interest in Palletways to Phoenix Equity Partners for an undisclosed sum as part of a secondary buyout transaction. 3i, which bought the business in April 2002 for GBP12m, says its investment in Palletways has brought it a 72% return.
Read MoreOne of the later arrivals in the world of pallet networks, Fortec has found its feet, and reckons it has some special benefits to offer. Question: what do pallet networks have to do with fulfilment? Answer: a great deal. You can appreciate this best if you recognise that parcels delivery companies are fundamental to fulfilment, whether it’s business-to-business or business-to-consumer. Pallet networks are really just part of that equation, coming into play at the upper end of the parcels companies’ weight range. You could consider them part of an unbroken continuum that starts with document delivery and extends to full loads of freight.
Read MoreScottish haulier J&J Murdoch has joined the Pall-Ex network, serving the Dumfries & Galloway and Borders regions. The Fortec pallet network has also added a new member. RGP International Freight, based in the Irlam area of Manchester, will cover the SK postcode.
Read MoreTNT is to invest three million Dirhams in a state-of-the-art road hub at the airport here in the UAE capital.
The clearance facility will open its doors on September 4, 2004, Mark Pell, TNT managing director Gulf and Saudi Arabia, announced.
Pell says the main reason for creating the new road hub is the ‘phenomenal success’ of TNT’s road network development programme due to Customer demand.
Steve Barrett, TNT’s national operations manager – Gulf, says the new facility at Abu Dhabi Airport will enable the Dutch-owned integrator to clear all products coming into the capital by road or air ‘immediately.’
Read MorePalletways is set to announce significantly improved profit levels as well as rapid growth for 2003/4, new chief executive and shareholder James Wilson revealed last week. He confirmed also that there were several investment companies interested in buying into the firm, apart from Phoenix Equity, which is now the major shareholder, having bought out 3i. The strong financial performance last year will be detailed shortly when results are filed at Companies House and was part of the appeal to its new owners. Phoenix Equity has secured leases on sheds next to the hub at Fradley Park, Lichfield, which will ensure that there is plenty of room for rapid expansion over the next three years. By contrast, Wilson questions the ability of some competitors to expand much further without substantial investment.
Read More
Post & Parcel Magazine is our print publication, released 3 times a year. Packed with original content and thought-provoking features, Post & Parcel Magazine is a must-read for those who want the inside track on the industry.
