Logistics equipment supplier Palletower acquires rival
Warehouse and logistics equipment supplier has revealed asset purchase from long time competitor Cargopak.
The acquisition, along with the purchasing of the remaining metal stock from its operations, is Palletower’s sixth within the past 18 months and follows the decision of Rotom Cargo Pak to exit the metal sector and focus its UK strategy within the timber and plastic pallet sectors – both areas where it has made significant acquisitions and progress in the past five years.
Palletower, which also has warehouse operations in Finland and the Czech Republic, has grown to become one of Europe’s largest providers of storage and logistics equipment.
Recent acquisitions have helped take the business from an established global turnover of more than £40m towards sales of £50m and in excess of 75 staff.
The company manufactures and supplies more than 100 product lines including roll cages, trolleys, racking, stillages and plastic pallet boxes.
With a 60-year heritage in the sector, it exports to more than 35 countries and its customers include Waitrose, Walmart, REWE Group and DHL.
Matthew Palmer, owner and managing director of Palletower, said: “Cargopak have been a long established presence within the UK storage and logistics equipment sector.
“They have an impressive product range and customer base and we are thrilled to have been able to bring this deal together.”
He added: “We are looking forward to working with and developing our expanded customer base over the coming year.
“This strategic acquisition alongside our recent acquisitions within the industrial racking and shelving industry continues our rapid diversification and growth.”
He also signalled further expansion plans, saying: “We continue to explore acquisition opportunities across the UK to further enhance the services we can provide to our customers across industrial racking and shelving, warehouse design and fit-out, storage and logistics equipment services.”
More on Palletower here: https://palletower.com/
