November 6, 2019 @ 10:30 by Steven Hugill
A family-run transport company is driving ahead with future growth plans after acquiring an interest in a global palletised freight distribution network.
Moody Logistics has teamed up with a consortium of member hauliers to buy Pall-Ex from founder, owner and Dragon’s Den star Hilary Devey.
Contracts have been signed for an undisclosed sum.
Caroline Moody, managing director at Cramlington’s Moody Logistics, said the move represents a vote of confidence in the business’ future ambitions.
Midlands-based Pall-Ex is made up of a network of haulage companies that works co-operatively to allow customers to send single pallets to part loads quickly and cost effectively.
Regionally-based members consolidate palletised goods at their depots and then deliver it to the Pall-Ex transportation hub for onward delivery.
The network operates throughout the UK, Europe and beyond, moving 30,000 pallets daily.
“We are delighted to be part of the network’s membership which has bought this award-winning and innovative business,” said Caroline, pictured left.
“It is a vote of confidence, not only in Moody Logistics’ future ambitions, but in the UK haulage industry to grow Pall-Ex across the UK and Europe.
“Pall-Ex employs 400 people directly in the UK and supports a further 8000 jobs, so it is a major success story for independent haulage companies up and down the country.
“It provides independent hauliers with the ability to build their business across the UK and internationally, so when the opportunity came for Moody Logistics to acquire shares, we were definitely ‘in’ on this fantastic deal.”
Ms Devey, who started Pall-Ex in 1996, is stepping away from the day-to-day running of the business after almost 25 years but will continue to work with the new owners in an ambassadorial role to help develop international services and European partner development.
Pall-Ex recently made significant investments across its warehouse, IT and customer service departments.