Motor Transport 21 October 2019

Page 1

Sharp ■ Informed ■ Challenging

21.10.19

NEWS INSIDE Waiting game

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Cartel claim hearing delayed p3

Road rethink

IFS calls for road tax rethink p4

Driving driver training Flogas books SP Training

p6

OPERATORS INSIDE Dobbs Logistics ............................................ p8

COUNT DOWN: DBAY Advisors has been granted more time to make a takeover offer for Eddie Stobart Logistics (ESL). According to the UK takeover panel, the international asset management firm has until 31 October to make a formal bid. However, former Stobart group boss Andrew Tinkler, who made a “highly preliminary expression of interest” in September via his company TVFC, is understood to no longer be considering a takeover. Before being floated, DBAY Advisors owned 51% of ESL but is now thought to have a smaller stake. In August, ESL suspended shares on the AIM market and announced the departure of CEO Alex Laffey after it failed to publish its half-year results in time.

Flogas Britain ............................................... p6 FreshLinc .....................................................p26 PGS Global Logistics ..................................... p6 Rhys Davies .................................................. p4 Sherringtons Waste Management ................. p4 UPS .............................................................p36 Wren Kitchens .............................................p38

Members will have ‘unique opportunity to be involved in the development of the pallet network’

Devey sells Pall-Ex to members By Tim Wallace

Pall-Ex Group has agreed a management buyout that will see founder, owner and chairwoman Hilary Devey step away from the day-to-day running of the business. The BBC’s Dragon’s Den star has agreed to sell the group to its network membership and management. Contracts were signed on 15 October and the deal is expected to be completed by 31 October. The deal, which Pall-Ex believes is the first of its kind, will offer UK and European members what it described as “a unique opportunity to be involved in the development of the pallet network”. The management team has also committed to shares in the company with share ownership being made available to the entire UK membership and its international partners. Devey, who started Pall-Ex in 1996, will continue to work with the new owners in an ambassador role to help develop their interna-

Pall-Ex moved fewer than 100 pallets on its first night and now moves more than 30,000 a day worldwide. All shareholders will be involved in the business as it develops Pall-Ex Group in the UK and on the continent. The group said more details regarding the new venture would be released in the coming weeks.

tional services and European partner development. Her continuing wish is to see the company expand and thrive, the company said. David Fairbrother of ADD Express, Maggie Larimore of PMB Pallets and Craig Stevens of STD Developments, who have worked with Devey for more than 20 years, negotiated the transaction alongside group MD Kevin Buchanan. Larimore said: “Hilary has been a driving force in the development of pallet distribution and has

turned Pall-Ex into an industryleading international brand. This purchase is the perfect way to preserve the legacy she has built.” Buchanan said: “Pall-Ex will offer a unique proposition in the sector with management, UK members and international partners working together as owners to enhance Pall-Ex as the quality network of choice. We would like to thank Hilary for enabling us to take the next step on this incredible and exciting journey.”

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Motor Transport 21 October 2019 by Motor Transport - Issuu