Pall-Ex has bought Cornish network member Intercounty Distribution for £700,000.
The company based on the Pennygillam Industrial Estate in Launceston has an O-licence for up to 22 vehicles and eight trailers. It has been a Pall-Ex member for 14 years.
The deal was completed on 12 October and saw Pall-Ex acquire the entire issued share capital of the company.
Intercounty, which is part of the Partnerlink consortium that has just launched a European service, was set up by MD Nick Coombes in 1972. Although initially serving customers in the grocery retail sector, the majority of its business these days comes via Pall-Ex. The operator’s website claims it handles some 2,500 pallets a week in and out of Cornwall and Devon for the network.
Pall-Ex MD Adrian Russell said: “The opportunity was presented to us after Intercounty’s MD Nick Coombes announced his retirement earlier this year. We are happy that Nick has decided to stay in his role a little longer to oversee the acquisition.
“We already have an investment in Pall-Ex South West, based in Devon, so this provides us with the opportunity to strengthen our support to our network members in this region even further.
“The South-west is often considered one of the trickiest areas for any network to cover given that it is a peripheral part of the country. There simply are not that many hauliers that are the same calibre as Intercounty in the region."
Following the deal Coombes has stepped down as a director of the business, while Pall-Ex's Russell and Martin Field, the network’s company secretary, have been appointed as directors.
In October Pall-Ex opened a new northern hub to support members.
