Motor Transport

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Sharp ■ Informed ■ Challenging

15.4.19

QUALITY. COMFORT. PERFORMANCE. Aspray Group founder severs ties as new parent pursues CVA

Aspray owner applies for CVA

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OPERATORS IN THIS ISSUE Abbey Logistics Group ...........................p6 Aspray Group ........................................p1 Bedfords Group .....................................p8 Bidcorp .................................................p3 Boleyn Recovery & Fleet Services ........p10 CEVA Logistics ......................................p8 DVS ......................................................p8 ELB Partners .......................................p10 Malcolm Group ...................................p11 Panalpina..............................................p8 R Jameson Events Transport ................p10 RPL Transport .......................................p8 S Bamford International.........................p7 Suttons Tankers ....................................p7 Yodel.....................................................p4

EXCLUSIVE By Chris Druce

Aspray Group founder Pat Laight has severed ties with the business after its new owner, Bushell Investment Group, applied for a company voluntary arrangement (CVA), MT can reveal. Ownership of the group, which consists of Aspray24, Aspray Logistics and Aspray International, was transferred to Bushell Investment Group on 5 March via holding company Bullamasay XL (MT 23 March). Speaking at the time, Bushell Investment Group CEO Lee Bushell promised the takeover would “ensure this business reaches its full potential”. Laight established Aspray in December 1982 with two trucks. Today it employs more than 600 people and operates from a 16-acre freehold site in Willenhall, West Midlands and 12 other locations. However, following the departure of his son Stuart from the business last year, Laight had been looking to secure the loss-making group’s future with a sale and cash injection. He told MT that the new owners had promised around £2m to keep the business going. “It is a big employer… and that was one of the main reasons for selling it to him [Bushell] as he guaranteed to me that he would

keep the people employed and invest,” Laight said. “Then last week [1 April] they said they were putting the business into a CVA. And I said ‘pardon?’” Laight told MT that while a CVA had been discussed as one of the options available for Aspray Group to take ahead of the sale of the business, he was genuinely shocked that it had in the end become the preferred course of action. Laight said that he had as of 6 March received the first instalment on the purchase of the business as set out in the sale agreement. He said however that he was not a salaried member of the business and had lent his name to ensure continuity while Bushell looked to appoint a manager to run it day to day. Laight has decided not to act as chairman of Aspray Group

as reported at the time of the acquisition last month. A spokeswoman for the transport business told MT: “As you are aware, Bushell Investment Group recently acquired the Aspray Group. “Since the acquisition, we have focused our efforts on initiatives to stabilise the business, which include restructuring, as well as investing funds and expertise. There are a number of legacy issues which we still need to address, and we propose to address these via a CVA. “It is important to note that it remains business as usual at Aspray, and that customers and trade suppliers will be unaffected by this process. “We are confident that these steps will ensure that we put the company in a strong financial position going forward.” A meeting on 23 April will seek approval for the CVA.

MT Awards shortlisted firms revealed The shortlist for the 33rd Motor Transport Awards has been revealed – and once again DPD UK leads the field with five entries, including Customer Care, which it has won in four of the past five years. DPD is hot on the heels of TNT, which won a record 33 trophies, with 27 titles to date and must be confident of adding to its tally when the winners are announced at the Grosvenor House Hotel on 3 July. Wren Kitchens is shortlisted for four awards, including Safety in Operation; Restore Datashred has been shortlisted in three categories, including the new Urban Delivery Operator of the Year. Also on the shortlist is Ocado, ArrowXL and City Plumbing. ■ See page 18 for the full shortlist and go online at mtawards.co.uk to book your table at the biggest night in the road transport industry.

FIND OUT MORE. mantruckvanandbus.co.uk

Focus: warehousing p12 Apprenticeships p14 Viewpoint p16 Trailers p20 Alternative fuels p22 Tail-lift security p28 MT Awards shortlists p30-34

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11/04/2019 16:21:19


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