Acquisitive storage and logistics equipment firm buys up racking business
A fast-growing Cheshire firm that’s become one of Europe’s largest providers of storage and logistics equipment has made its fifth acquisition in six months by purchasing a Yorkshire racking and shelving specialist.
Sale-based Palletower has acquired a 100 per cent shareholding in Beverley-based Kingstonian Storage and Equipment Ltd. The value of the deal is undisclosed.
Palletower manufactures and supplies over 100 product lines including roll cages, trolleys, racking, stillages and storage boxes. With a 60-year heritage in the sector, it exports to more than 35 countries and works with companies including Waitrose, Walmart and DHL.
Kingstonian, founded in 1992, supplies customers across East Yorkshire and Humberside with a range of racking and storage solutions, as well as products like ladders, trucks, trolleys and lifting equipment.
The corporate team at North West law firm Harrison Drury, led by Mark Traynor and supported by Ben Foulds and Richard Williams-Bulkeley, advised the shareholders of Palletower on the deal. Jenny Potts from the firm’s commercial property team provided advice on the property aspects of the transaction.
Matthew Palmer, owner and managing director of Palletower, said: “Kingstonian is another well-established business that plays a vital role in helping customers keep their businesses moving and their supply chains running smoothly.
“Bringing Kingstonian into the Palletower group enables us to further accelerate the growth of our business, giving us access to new markets as well as a number of complementary products and services.”
Mark Traynor, partner in Harrison Drury’s corporate team, said: “The management team at Palletower have a clear and ambitious growth strategy which includes acquiring like-minded businesses alongside steady organic growth.
“After advising Matthew and the team on three of the company’s previous transactions, we’re pleased to have assisted on another exciting acquisition that will bring huge benefits to the customers and staff of both businesses.”
The acquisition of Kingstonian follows Palletower’s purchases of West Pennine Storage, WP Group, Astirvant and Yorkshire Storage, all in 2024.
The transactions have helped propel Palletower from an established global turnover of over £40m towards a £50m turnover, while taking employee numbers to 70 across its Cheshire headquarters and sites in Finland and the Czech Republic.
Matthew added: “The last 12-months has seen us bring together a powerful collection of businesses in industrial racking, shelving, mezzanine floor installations, workplace equipment and warehouse fit-out services.
“We look forward to further opportunities to grow, especially within the racking and shelving sector where the potential for further acquisitions is being explored.”
Read about Palletower here: https://palletower.com/