TDG price too high says Stobart

Commercial Motor
February 3, 2011

Stobart Group, parent company of Eddie Stobart, was in the running to buy TDG before it was snapped up by Norbert Dentressangle for £196m in cash in December 2010.

However, chief executive Andrew Tinkler told Roadtransport.com that the company dropped out of the running to acquire TDG from its former owner, private equity firm DouglasBay Capital, because the price was too high.

"We had a very good look at TDG to see if there was an opportunity there," says Tinkler, "but it had to be at the right price. TDG, to be fair, have done quite well over the years but requires some investment going forward. It had the trucks but did a lot of sub-contracting as well, but it had to be right."

He also questioned the rationale of introducing the 4PL model, which TDG runs on contracts with Corus and Aggregate Industries, into Stobart Group.

"Our model is simple, we have got a truck and we have got a service. Are you not just putting another person in the system?" he adds.

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