The Silver X Group has acquired a minority stake in Bow Distribution and Warehousing Limited – the 21 year old established pallet distribution and warehousing company.
Derbyshire-based Silver X Group did not disclose the terms of the deal, but said it has the option of increasing its stake in the business in the years to come.
Silver X Group Managing Director Gavin Burgess said: “The Bow team has been extremely successful over the past 21 years in growing a much-loved and reliable warehouse and distribution company with gold partner status within the UPN pallet network”.
“Our own business already has a great track record in the warehousing and transport sectors delivering ecommerce fulfilment, storage solutions, Home Delivery, plus same day courier and road Haulage services. The Bow opportunity offers The Silver X Group the chance to add another string to its BOW (excuse the pun), with the acquisition of an established pallet collection and delivery service as well as adding another 36,000ft2 to its current portfolio of over 100,000 ft2 of warehousing space.”
Bow Managing Director, Paul Howarth said: “Initial dialogue commenced over two years ago but had to be delayed due to the sad and sudden passing away of my fellow Director Andre Bowd.” At 63, I was keen to keep the Bow brand alive as well as ensure that my team is well looked after once I finally decide to retire.
“Gavin and the Silver X Group have offered the team the chance to continue the Bow legacy and hopefully continue to grow the company for further years to come. Working on the same industrial estate we have forged a strategic partnership over the last couple of years so I’m confident the deal will represent stability while offering our current customer base a wider range of services.
“With significant opportunities opening up for us in the market this feels like the right moment and The Silver X Group fits well with our values & culture as well as our strategic alignment making them the right partner.”
Bow Distribution will remain a separate business, Paul Howarth will remain as Managing Director with Gavin Burgess joining the board, David Clarke will remain as Operations Manager.