Purchased by a new subsidiary company For-Ex Distribution Network Ltd, the network will remain trading as Fortec Distribution. It will continue to operate as a separate pallet network within the UK but be part of the overall Pall-Ex Group of companies.
The two firms, which were both founded in Leicestershire in 1996, have a combined total of 168 network members, the largest in the UK, and are a welcome addition to Pall-Ex Group’s now 600 European membership.
Fortec’s 210,000 sqft warehouse at Watling Park, Northamptonshire, will give the entire Pall-Ex Group more than 600,000 sqft of hub capacity as they continue to grow over 11% above the sector average (Q1 and Q2 2020).
This is the second purchase by Pall-Ex Group following a buyout by its UK senior management team and shareholder members in November 2019.
The Fortec membership will now take advantage of Pall-Ex’s unique shareholder model as well as sharing a number of quality resources, including Pall-Ex’s new Core Operational system, Nexus.
Kevin Buchanan, Group CEO of Pall-Ex Group, comments: “This is a significant step in Pall-Ex’s growth plans and a strategic move that will further strengthen our position in the UK.
“The addition to the group presents many benefits to our collective membership; Pall-Ex members are experiencing an increase in freight volume and need access to additional hub capacity, while Fortec members will have a say in the operation of their network under our unique shareholder model.
“Fortec customers will also benefit from being able to utilise Nexus and our International service, Pall-Ex Connect.
“While both firms will retain their brand identities, there are clear synergies that make this a natural partnership and we look forward to working together, winning together and becoming stronger together in this new era.”
Adrian Bradley, Managing Director of Fortec, comments: “The acquisition places Fortec in a strong position and with Pall-Ex Group’s support and innovative new technology we can expand and enhance our network for the benefit of our members and our entire customer-base.
“We look forward to this new era, being part of the Pall-Ex family and providing members with the opportunity to invest in the network as shareholders.”
Pall-Ex Group is an award-winning network of hauliers comprising two leading UK pallet networks and four subsidiary depots. Pall-Ex is a renowned name in logistics, delivering an efficient and reliable service backed by innovative technology and a first-class network of established shareholder SMEs. With its headquarters and central UK hub located in the Midlands, Pall-Ex is the beating heart of the logistics industry, transporting more than 35,000 pallets across the globe every day with support from its carefully selected international logistics partners.
Find out how to become a Pall-Ex member and shareholder.
Fortec Distribution based in Northampton is one of the UK’s leading palletised freight distribution networks, based in Northampton. A wholly owned subsidiary of Pall-Ex Group, it forms the largest overall collection of members within the UK.
Fortec distributes thousands of consignments every day, from a range of industries around the UK and utilising the Pall-Ex Connect service also distributes throughout the globe.
For more information visit www.fortec-distribution.com