https://www.engineeringnews.co.za

Imperial eyes UK’s Palletways in R3.8bn deal

17th June 2016

By: Natasha Odendaal

Creamer Media Senior Deputy Editor

  

Font size: - +

JSE-listed Imperial, through its subsidiary, Imperial Mobility International, plans to acquire 100% of UK-founded Palletways Group for £162.9-million, or R3.8-billion, from mid-market private-equity firm Phoenix Equity Partners.

The acquisition, which will be settled through the use of existing unused foreign credit facilities and cash, is aligned with Imperial’s ambitions of expanding globally through the acquisition of asset-light logistics businesses.

“Palletways’ business model and geographic reach will be complementary to our existing services and networks in the logistics sector. “We admire the past achievements of the management team and look forward to working with them to enhance Palletways’ presence and service in the UK and Europe,” says Imperial CEO Mark Lamberti.

An express delivery firm, Palletways handled some 38 000 pallets a day or eight-million pallets a year through more than 400 depots and 14 hubs across 20 European countries.

Palletways’ management plans to coinvest alongside Imperial to own about 4% of Palletways.

The acquisition remains subject to conditions, including European Competition Authorities approval.

Palletways generated revenue of R3.1-billion and earnings before interest, taxes, depreciation and amortisation of R380.5-million in the year to May 31.

The company’s net asset value is R537.3- million.

Edited by Martin Zhuwakinyu
Creamer Media Senior Deputy Editor

Comments

Showroom

Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 
Booyco Electronics
Booyco Electronics

Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.132 0.187s - 137pq - 2rq
Subscribe Now