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Palletforce Agrees Terms of Acquisition by EmergeVest
Palletforce Plc, a UK leader in express palletised distribution, has reached agreement on the terms of an acquisition by EmergeVest Fund B LP to acquire the entire shareholding of Palletforce, valuing the company at £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.
With the sale of Palletforce at a substantial premium to the last traded share price in June 2015 through the matched bargain trading facility, each shareholding member is set to benefit financially from the company's growth in revenue and profits.
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.
Working together with the present executive management team, EmergeVest has committed to retain and develop the existing business model and to uphold the partnership values with Palletforce network members. Palletforce believes this approach is critical to its ongoing success and underpins the ethos of all parties working together and for each other.
Palletforce has experienced significant growth across the UK and Europe and was recently crowned 'Logistics Supplier of the Year' at The Grocer Gold awards. Volumes in the first six months of the current financial year increased by 20% as the Palletforce network collected and delivered nearly 1.5 million pallets.
Welcome Home Win for Billy as World Championship Hots Up
Teenage trials bike rider Billy Bolt is on target to claim the British Arena Championship following a superb win in a new and challenging event.
Billy, who is sponsored by Palletforce, beat some of the country's top riders at the MacKenzie Super Stars trial, held in Yorkshire in June.
The format was slightly different to the rules governing the World and British Championships, and included 12 spectacular sections combining natural rock features and man-made hazards.
"The event is designed to favour riders and spectators alike, and it made a pleasant break from what's been a really busy schedule," Billy said. "I rode very well all day and it was particularly satisfying to beat the same riders that I compete against every week in the World and British championships."
The event is part of the British Arena Championship, and Billy's win means that he is top of the rider's table with just one round remaining in August. It will also give the 17-year-old Tynesider a much-needed boost as he goes into the final few rounds of his debut World Trials Championship season.
After a superb start for his new team, Scorpa Factory Motorcycles, in which he finished second at the WTC event in the Czech Republic, Billy has found the going tougher as the competition – and the temperature – hots up.
Returning to action in France, he was disappointed to finish ninth after his first two laps put him in contention for a podium place.
"With the venue being at an altitude of 1800m and temperatures that week above 35C I think this began to take its toll and I struggled to find any sort of rhythm with my riding and didn't feel comfortable on the bike at all," Billy said.
Palletforce Announced as Double Finalist in Lloyds Bank National Business Awards
Nationwide express distribution network Palletforce has been shortlisted for two awards in the prestigious 2015 Lloyds Bank National Business Awards. The company is a finalist in both the Market Gravity Innovation and Vonage Business Enabler of The Year awards – recognising its sector-leading distribution services which help keep the wheels of British industry turning.
Palletforce, which operates a network of 90 individual transport companies from a world-class central hub in Burton upon Trent, will go up against a host of other well-known finalists. The winner will be revealed at the Lloyds Bank National Business Awards gala dinner held on 10 November at Park Lane's Grosvenor House Hotel in London.
Michael Conroy, Palletforce chief executive officer, said: "Palletforce is delighted to be nominated as a double finalist in the prestigious National Business Awards 2015. Being announced as a contender in both the Market Gravity Innovation and the Vonage Business Enabler of the Year Awards acknowledges the class-leading service we deliver.
New European Development Manager for Palletforce
UK-based express freight distribution network Palletforce has appointed Renate Ziegler as its European Development Manager.
Renate was previously International Sales Manager for a pallet network in Germany and has over 15 years' experience of sales and business development in the UK, Germany, Austria, Switzerland, Holland, Belgium and Luxembourg.
In her new role she will be responsible for driving Palletforce's European sales development programme, working directly with Palletforce members, identifying and advising on commercial opportunities within the UK express freight sector.
Originally from Berlin, Renate lived and worked in London from 2006 to 2012, enrolling in night classes for three years in order to perfect her English.
Knowles Transport Selects Palletforce To Boost Business
Cambridgeshire-based haulage company Knowles Transport has become the latest shareholder member of the award-winning Palletforce distribution network – the first time the firm has joined a pallet network.
The family-run business, which has its headquarters in Wimblington, near Peterborough, will cover selected PE postcodes in Cambridgeshire and East Anglia. The move will allow Palletforce, which was recently voted logistics supplier of the year at the Grocer Gold awards, to further enhance its service across the region.
Founded in 1932, Knowles Transport operated initially with a single Model T Ford bought for just £10. Today it runs a fleet of 80 vehicles and oversees more than 2 million sq ft of warehousing across five sites.
Business development manager Alex Knowles is the third generation of his family to be involved with the company, and believes the decision to join the Palletforce network marks the next logical step in their development.
"We have been looking to diversify the business, and Palletforce opens us up to a new customer base that we never had before," he said.
Tanak Aiming For Pole Position With Palletforce
Palletforce rally driver Ott Tanak is aiming for pole position this weekend as he tackles Rally Poland – round seven of the FIA World Rally Championship. With a renewed sense of confidence at the wheel of his recently-upgraded Ford Fiesta RS WRC, the Estonian rally star has promised a push on the high-speed gravel roads in the north of the country near Mikolajki.
After setting a string of quick times on the last event in Sardinia, Tanak is poised to capitalise on his experience of the Polish stages – after taking overall victory in WRC2 last season. The soft, sandy stages are ultra fast, similar to the roads in Estonia and demand high levels of commitment and confidence.
But it’s a tough event and the first day of action on Friday is tackled without an opportunity for mid-day service – putting even more pressure on Tanak to deliver a flawless performance.
Gala Awards Celebrate Palletforce Stars
It was another glittering night to remember as freight distribution network Palletforce held its annual Gala Awards night in London.
The event, which celebrates the achievements of Palletforce members across the UK, was attended by more than 450 guests, with awards being presented in six different categories.
This year's host at the Park Plaza Westminster Bridge Hotel Park was TV celebrity Stephen Mulhern, with entertainment provided by soprano Carrie-Ann Williams, and Britain's Got Talent violinist Lettice Rowbotham.
There were three winners in the New Member Award from a seven-strong shortlist: Lockwood Haulage and Nelson Distribution, both from Derbyshire, and Reive & Grossart, who are based in Abington, Lanarkshire.
C & D Southwest, from Chard, Somerset, were recipients of the Sales and Marketing Award for their tremendous efforts in boosting sales through promotion of their own business as well as the Palletforce brand.
Barnsley-based Truswell Haulage won the Members' Service Committee Award, which is given to the member who has demonstrated significant improvement year on year in pursuit of boosting network volumes and delivering quality service.