RDFL bought by management

Commercial Motor

May 28, 2008

South Wales firm Rhys Davies Freight Logistics (RDFL) has undergone a management buyout due to owner and chairman Gwyn Davies moving towards retirement. After nine months of discussions, operations director Paul Hodgkiss and managing director Mark Richmond have acquired 100% of the shares of RDFL.

The deal has been supported by funding from the Royal Bank of Scotland and Davies, who will continue his involvement in the business for the time being, will relinquish his duties over time. Speaking to MT, Richmond says: "There will be a subtle change in direction, but the day-to-day operations will remain the same."

There will be no changes to the board structure as Davies, Richmond and Hodgkiss will remain in their current job roles. To further emphasise the continuity, new leases have been signed for RDFL's Whitburn, West Lothian and Cardiff sites for the next 10 years, with the remaining sites continuing on their current leases. To date, RDFL has nine sites, 462 staff and runs 170 vehicles.

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