Tuesday, June 2, 2020

Sale of Pall-Ex to UK network membership and senior management team completes

Pall-Ex Group is now collectively owned by its UK network membership and senior management team after its founder, owner, chairwomen and Dragon’s Den star Hilary Devey CBE agreed to sell the business.

RUN D.M.C Investments Limited, a company created by Dave Fairbrother, Maggie Larimore and Craig Stevens, founder members of Pall-Ex, funded the initial membership part of the acquisition.

Pall-Ex has become the first UK network to be owned by industry personnel from within the business and throughout the membership. All have decades of experience running successful logistics businesses and are looking forward to working together to take Pall-Ex to the next level of palletised freight delivery.

Maggie Larimore, one of the founder-directors of Run D.M.C said: “We are delighted that more than 70% of Pall-Ex’s UK membership will be shareholders and that the senior management have chosen to commit their long-term futures to help us grow.”

Kevin Buchanan, CEO of Pall-Ex Group, said: “The senior management have bought into a five-year vision to build Pall-Ex, which is already an outstanding brand, into a market-leading European network. We are already in discussion with our International partners to invest further into Pall-Ex Group to deliver an ambitious development programme. We are also actively growing our UK network membership, to further increase our shareholder members within Pall-Ex UK.

“I am excited about this journey and how far we can take the business, we have some key developments happening in the next few weeks, and so will be releasing information about these in due course.”

The new owners are also discussing shareholder options with Pall-Ex’s International partners, to further grow the European arm of the business.

A message from the Editor:

Thank you for reading this story on our news site - please take a moment to read this important message:

As you know, our aim is to bring you, the reader, an editorially led news site and magazine but journalism costs money and we rely on advertising, print and digital revenues to help to support them.

With the Covid-19 lockdown having a major impact on our industry as a whole, the advertising revenues we normally receive, which helps us cover the cost of our journalists and this website, have been drastically affected.

As such we need your help. If you can support our news sites/magazines with either a small donation of even £1, or a subscription to our magazine, which costs just £33.60 per year, (inc p&P and mailed direct to your door) your generosity will help us weather the storm and continue in our quest to deliver quality journalism.

As a subscriber, you will have unlimited access to our web site and magazine. You'll also be offered VIP invitations to our events, preferential rates to all our awards and get access to exclusive newsletters and content.

Just click here to subscribe and in the meantime may I wish you the very best.






Latest news

Revenue rise and return to profit for Lutterworth cyber security solutions provider

Lutterworth-based cyber security solutions provider Intercede is looking forward to "a further year of progress" as newly released preliminary results for the year ended...

Hotel Brooklyn to open second hotel in Leicester

Hotel Brooklyn, a Bespoke Hotels brand, is set to open its second hotel in Leicester in summer 2022, following the launch of its Manchester...

Hundreds of jobs to be cut at Triumph Motorcycles

240 people are to be made redundant in the UK at Hinckley-headquartered Triumph Motorcycles, with global job cuts said to be at 400. The move...

Slow pandemic support sees businesses plan to scrap banking provider

41% of businesses are planning to change their banking provider due to the slow support that has been offered during the COVID-19 outbreak. This is...

XCellR8 founder joins Nottingham scientific research charity’s Board of Trustees 

Dr Carol Treasure, the Founder and CEO of specialist animal-free contract testing laboratory XCellR8, has joined the Board of Trustees of Fund for the...

Related news

Digital marketing agency appoints three new directors

Hallam, the Nottingham-based digital marketing agency, has appointed three new directors as part of its strategic restructure. Charlotte Tomlinson (Media Director), Matt Berry (Client Services...

Revenue rise and return to profit for Lutterworth cyber security solutions provider

Lutterworth-based cyber security solutions provider Intercede is looking forward to "a further year of progress" as newly released preliminary results for the year ended...

Hotel Brooklyn to open second hotel in Leicester

Hotel Brooklyn, a Bespoke Hotels brand, is set to open its second hotel in Leicester in summer 2022, following the launch of its Manchester...

Hundreds of jobs to be cut at Triumph Motorcycles

240 people are to be made redundant in the UK at Hinckley-headquartered Triumph Motorcycles, with global job cuts said to be at 400. The move...

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close