Feature, Freight News, Logistics

South African firm to buy Palletways

[ June 1, 2016   //   ]

South African-based Imperial Holdings is to acquire Palletways from current shareholder Phoenix Equity Partners for £163 million.

Imperial is a Johannesburg-listed international group of companies with a focus on consumer and industrial logistics. It says it fully supports the UK and European pallet network operator’s current management and will continue the company’s existing growth strategy, including plans to invest further in geographical expansion, product and service development, and its technology platform. Imperial adds that its expertise in the logistics sector will help drive further growth and development of Palletways’ offer across existing and new territories.

Imperial’s current interests include Logistics Africa, which provides outsourced supply chain management in the south, west and east of the continent and German-based Logistics International which provides industrial contract logistics, warehousing, inland waterway shipping, bulk and container terminal operations.

Palletways’ chief executive, James Wilson, said: “We would like to thank Phoenix for all their support. We are delighted to be working with Imperial as we move to the next stage of Palletways’ development by continuing to expand into new markets…The Palletways management team shares a common vision with Imperial and remains fully committed to the business as we pursue our strategy for further growth.”

Imperial chief executive, Mark Lamberti, added: “Palletways’ business model and geographic reach will be complementary to our existing services and networks in the logistics sector. We admire the past achievements of the management team and look forward to working with them to enhance Palletways’ presence and service in the United Kingdom and Europe.”

Palletways will continue to be run as a standalone business within the Imperial Group following the transaction, which remains subject to regulatory approvals.