London-based Palletways Network member Ketra Logistics has expanded after acquiring fellow Palletways Member IEFS Ltd.
Ketra’s Managing Director, Martyn Young, is taking over the business from IEFS’s Derek Best who has retired after more than 20 years at the helm.
The two companies will continue to operate independently, however the acquisition will lead to a considerable investment in fleet technology and people at IEFS.
IEFS, based in Barking, specialises in next day palletised distribution and will increase Ketra’s fleet by 60%.
Martyn has ambitious plans to carve out IEFS as the premier provider of palletised distribution in East London. He said: “This is an exciting development for Ketra as there are many operational synergies between the two organisations and along with our network partner Palletways it presents opportunities to expand our coverage within London.
“Our customers continue to grow in the UK and this venture helps meet new demand. We have ambitious growth targets for 2018 and this acquisition will allow us to not only better service our existing customers in that area but also attract new business in the vicinity. Derek has built up a very successful business, which I am proud to be taking on, and we wish him all the best in his retirement.”
Since it was founded in 1979, Ketra Logistics has been providing companies in South East London and North Kent with a range of distribution services and solutions. It boasts a wide range of vehicles and its experienced team of more than 50 handles over 200,000 pallets a year.
Both companies are part of Palletways, Europe’s largest and fastest growing express palletised freight network.