August 13, 2015: Palletforce Plc, a UK leader in express palletized distribution, has been acquired by EmergeVest Fund B LP for £30 million.
The acquisition will allow Palletforce to benefit from continued investment in its quality distribution services and see it build on its strong relationship with the 88 member companies making up the award-winning network.
The partnership with EmergeVest, which has logistics interests in the UK and China, will also create exciting international commercial opportunities for Palletforce and lead to the emergence of the company onto the global stage.
Palletforce has experienced significant growth across the UK and Europe. Volumes in the first six months of the current financial year increased by 20 percent as the Palletforce network collected and delivered nearly 1.5 million pallets.
EmergeVest owns NFT Distribution, a UK chilled food distribution specialist, has interests in Allport Cargo Services, a global freight forwarder, and has more than US$300 million of assets under management.
The acquisition is subject to shareholder approval and a legal process that will take a number of weeks to complete.
Michael Conroy, chief executive officer of Palletforce, said: "The offer from EmergeVest will allow Palletforce to continue its class-leading quality service with a real focus on investing in the strong relationship we have with our network members."