Pall-Ex completes Fortec buyout

Pall-Ex Group has completed the acquisition of the Fortec Distribution Network. Purchased by a new subsidiary company, For-Ex Distribution Network, it will remain trading as Fortec Distribution and operate as a separate network but be part of the overall Pall-Ex Group of companies.

The two firms, which were both founded in Leicestershire in 1996, have a combined total of 168 members, said to be the largest in the UK.

Fortec’s 210,000sq ft warehouse at Watling Park, Northamptonshire, will give the entire Pall-Ex Group more than 600,000sq ft of hub capacity as it continues to expand more than 11% above the sector average (Q1 and Q2 2020).

The move comes after a buyout of the Pall-Ex Group by its UK senior management team and shareholder members in November 2019.

The Fortec membership can now take advantage of Pall-Ex’s shareholder model and numerous resources, including its new core operational system, Nexus.

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Pall-Ex group chief executive Kevin Buchanan said: “This is a significant step in Pall-Ex’s growth plans and a strategic move that will strengthen our position in the UK. The addition to the group presents many benefits to our collective membership; Pall-Ex members are experiencing an increase in freight volume and need access to additional hub capacity, while Fortec members will have a say in the operation of their network under our unique shareholder model.

“Fortec customers will also benefit from being able to use Nexus and our international service, Pall-Ex Connect.

“While both firms will retain their brand identities, there are clear synergies that make this a natural partnership and we look forward to working together, winning together and becoming stronger together in this new era.”

Fortec MD Adrian Bradley said: “The acquisition places Fortec in a strong position and, with Pall-Ex Group’s support and innovative new technology, we can expand and enhance our network for the benefit of our members and our entire customer base.

“We look forward to this new era, being part of the Pall-Ex family and providing members with the opportunity to invest in the network as shareholders.”

The post Pall-Ex completes Fortec buyout appeared first on Motor Transport.

Pall-Ex Group has completed the acquisition of the Fortec Distribution Network. Purchased by a new subsidiary company, For-Ex Distribution Network, it will remain trading as Fortec Distribution and operate as a separate network but be part of the overall Pall-Ex Group of companies. The two firms, which were both founded in Leicestershire in 1996, have a combined total of 168 members, said to be the largest in the UK. Fortec’s 210,000sq ft warehouse at Watling Park, Northamptonshire, will give the […]
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